Samsara (NYSE:IOT) Given New $44.00 Price Target at JPMorgan Chase & Co.

Samsara (NYSE:IOT) had its target price raised by research analysts at JPMorgan Chase & Co. from $40.00 to $44.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 17.14% from the stock’s current price.

Several other research analysts have also recently weighed in on IOT. Wells Fargo & Company boosted their price objective on shares of Samsara from $46.00 to $55.00 and gave the company an “overweight” rating in a report on Friday. Royal Bank of Canada raised their price objective on Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday. TD Cowen boosted their price objective on Samsara from $46.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Truist Financial upped their price target on shares of Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a research report on Monday, November 18th. Finally, Evercore ISI lifted their target price on shares of Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a research note on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Samsara has a consensus rating of “Hold” and a consensus price target of $51.29.

Samsara Trading Down 3.7 %

Shares of Samsara stock traded down $2.03 during trading on Friday, hitting $53.10. The stock had a trading volume of 4,821,365 shares, compared to its average volume of 3,514,565. Samsara has a 12 month low of $27.14 and a 12 month high of $57.51. The firm has a market cap of $29.54 billion, a price-to-earnings ratio of -110.63 and a beta of 1.53. The business’s 50-day moving average is $50.35 and its 200 day moving average is $42.33.

Samsara (NYSE:IOT) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.04. The business had revenue of $300.20 million for the quarter, compared to analysts’ expectations of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The firm’s revenue for the quarter was up 36.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.11) earnings per share. As a group, equities analysts expect that Samsara will post -0.34 EPS for the current year.

Insider Transactions at Samsara

In related news, major shareholder Sanjit Biswas sold 83,333 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $53.81, for a total value of $4,484,148.73. Following the sale, the insider now owns 19,200 shares in the company, valued at $1,033,152. This represents a 81.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lara Caimi sold 7,508 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $46.42, for a total transaction of $348,521.36. Following the transaction, the insider now directly owns 1,093,535 shares of the company’s stock, valued at approximately $50,761,894.70. This trade represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,873,300 shares of company stock valued at $91,752,243. 60.04% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Samsara

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. acquired a new stake in shares of Samsara during the 3rd quarter worth approximately $10,868,000. Wilmington Savings Fund Society FSB purchased a new position in Samsara in the third quarter worth approximately $546,000. Virtu Financial LLC acquired a new stake in Samsara during the third quarter worth $1,689,000. Hobbs Group Advisors LLC purchased a new stake in Samsara in the third quarter valued at $34,000. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in shares of Samsara by 2.0% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 149,789 shares of the company’s stock valued at $7,208,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 89.39% of the company’s stock.

About Samsara

Samsara Inc provides solutions that connects physical operations data to its connected operations cloud in the United States and internationally. The company's Connected Operations Cloud includes Data Platform, which ingests, aggregates, and enriches data from its IoT devices and has embedded capabilities for AI, workflows and analytics, alerts, API connections, and data security and privacy.