Samsara (NYSE:IOT) Stock Rating Upgraded by StockNews.com

Samsara (NYSE:IOT - Get Free Report) was upgraded by StockNews.com from a "sell" rating to a "hold" rating in a report released on Tuesday.

Other equities research analysts have also recently issued reports about the company. BMO Capital Markets increased their target price on Samsara from $40.00 to $44.00 and gave the company a "market perform" rating in a report on Friday, September 6th. Bank of America increased their price objective on Samsara from $45.00 to $47.00 and gave the company a "buy" rating in a research note on Friday, September 6th. JPMorgan Chase & Co. lifted their target price on shares of Samsara from $37.00 to $40.00 and gave the stock a "neutral" rating in a research note on Friday, September 6th. Evercore ISI upped their price target on shares of Samsara from $40.00 to $42.00 and gave the company an "in-line" rating in a report on Friday, September 6th. Finally, Wells Fargo & Company raised their price target on shares of Samsara from $42.00 to $46.00 and gave the stock an "overweight" 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. According to MarketBeat.com, Samsara presently has an average rating of "Hold" and an average target price of $43.31.

Samsara Trading Down 5.1 %

Shares of NYSE IOT traded down $2.52 during midday trading on Tuesday, hitting $46.62. 3,526,696 shares of the company's stock were exchanged, compared to its average volume of 3,675,239. The business's fifty day moving average price is $45.43 and its two-hundred day moving average price is $38.83. The company has a market cap of $25.68 billion, a price-to-earnings ratio of -93.24 and a beta of 1.52. Samsara has a 12-month low of $21.48 and a 12-month high of $51.53.

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

Insider Activity

In related news, insider Adam Eltoukhy sold 9,308 shares of the company's stock in a transaction 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 sale, the insider now directly owns 396,784 shares of the company's stock, valued at $20,093,141.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Adam Eltoukhy sold 9,308 shares of Samsara stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $50.64, for a total transaction of $471,357.12. Following the completion of the transaction, the insider now directly owns 396,784 shares of the company's stock, valued at $20,093,141.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sanjit Biswas sold 58,739 shares of the company's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $50.61, for a total transaction of $2,972,780.79. Following the completion of the sale, the chief executive officer now owns 617,147 shares in the company, valued at approximately $31,233,809.67. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,849,061 shares of company stock worth $80,282,052 in the last quarter. 60.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IOT. Advisors Asset Management Inc. lifted its stake in shares of Samsara by 9.4% in the first quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company's stock worth $123,000 after buying an additional 280 shares in the last quarter. UMB Bank n.a. raised its holdings in Samsara by 69.1% in the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company's stock worth $49,000 after acquiring an additional 418 shares during the last quarter. Resources Management Corp CT ADV lifted its position in Samsara by 104.0% in the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company's stock valued at $32,000 after acquiring an additional 490 shares in the last quarter. Cetera Advisors LLC boosted its stake in Samsara by 6.8% during the 1st quarter. Cetera Advisors LLC now owns 7,805 shares of the company's stock valued at $295,000 after purchasing an additional 497 shares during the last quarter. Finally, Capstone Wealth Management Group LLC increased its holdings in shares of Samsara by 2.3% in the 3rd quarter. Capstone Wealth Management Group LLC now owns 26,660 shares of the company's stock worth $1,283,000 after purchasing an additional 610 shares in the last quarter. Hedge funds and other institutional investors 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.