Craig Hallum Begins Coverage on Samsara (NYSE:IOT)

Craig Hallum started coverage on shares of Samsara (NYSE:IOT - Free Report) in a research note published on Tuesday, MarketBeat Ratings reports. The brokerage issued a hold rating and a $48.00 price objective on the stock.

Several other brokerages have also issued reports on IOT. Truist Financial increased their target price on shares of Samsara from $35.00 to $40.00 and gave the stock a "hold" rating in a research note on Friday, September 6th. Evercore ISI upped their target price on Samsara from $40.00 to $42.00 and gave the stock an "in-line" rating in a research report on Friday, September 6th. JPMorgan Chase & Co. lifted their price target on shares of Samsara from $37.00 to $40.00 and gave the company a "neutral" rating in a research report on Friday, September 6th. TD Cowen raised their price objective on shares of Samsara from $46.00 to $56.00 and gave the company a "buy" rating in a research note on Friday, October 11th. Finally, BMO Capital Markets lifted their price objective on shares of Samsara from $40.00 to $44.00 and gave the company a "market perform" rating in a report on Friday, September 6th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $43.31.

Samsara Stock Down 5.1 %

Shares of IOT stock traded down $2.52 during trading hours on Tuesday, reaching $46.62. The company's stock had a trading volume of 3,526,696 shares, compared to its average volume of 3,675,239. Samsara has a fifty-two week low of $21.48 and a fifty-two week high of $51.53. The firm's 50 day simple moving average is $45.43 and its 200-day simple moving average is $38.83. The company has a market capitalization of $25.68 billion, a price-to-earnings ratio of -93.24 and a beta of 1.52.

Samsara (NYSE:IOT - Get Free Report) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The firm had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The company's revenue for the quarter was up 36.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.11) earnings per share. Sell-side analysts predict that Samsara will post -0.34 earnings per share for the current year.

Insider Activity at Samsara

In related news, insider Adam Eltoukhy sold 9,308 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $50.64, for a total value of $471,357.12. Following the transaction, the insider now owns 396,784 shares in the company, valued at approximately $20,093,141.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Samsara news, insider Adam Eltoukhy sold 9,308 shares of the company's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $50.64, for a total value of $471,357.12. Following the transaction, the insider now directly owns 396,784 shares in the company, valued at $20,093,141.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO James Andrew Munk sold 1,093 shares of the business's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $47.31, for a total value of $51,709.83. Following the transaction, the chief accounting officer now directly owns 319,667 shares of the company's stock, valued at $15,123,445.77. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,849,061 shares of company stock worth $80,282,052. 60.04% of the stock is owned by company insiders.

Institutional Investors Weigh In On Samsara

Hedge funds have recently added to or reduced their stakes in the company. Baillie Gifford & Co. raised its position in Samsara by 18.1% in the 2nd quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company's stock worth $924,499,000 after purchasing an additional 4,207,974 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Samsara by 18.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company's stock worth $666,584,000 after acquiring an additional 2,797,326 shares during the period. Vanguard Group Inc. increased its position in Samsara by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company's stock valued at $646,253,000 after purchasing an additional 1,841,149 shares during the period. 1832 Asset Management L.P. raised its holdings in Samsara by 6.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company's stock worth $273,930,000 after purchasing an additional 500,400 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in shares of Samsara by 12.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 2,228,759 shares of the company's stock worth $84,225,000 after purchasing an additional 243,170 shares during the period. Institutional investors own 89.39% of the company's stock.

Samsara Company Profile

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.