Samsara (NYSE:IOT) Price Target Raised to $57.00 at BMO Capital Markets

Samsara (NYSE:IOT - Get Free Report) had its price target upped by BMO Capital Markets from $44.00 to $57.00 in a research report issued on Friday, Marketbeat.com reports. The firm currently has a "market perform" rating on the stock. BMO Capital Markets' target price would suggest a potential upside of 9.05% from the company's previous close.

Several other equities research analysts also recently issued reports on IOT. Craig Hallum started coverage on Samsara in a research report on Tuesday, October 22nd. They set a "hold" rating and a $48.00 target price on the stock. Truist Financial increased their price objective on Samsara from $40.00 to $50.00 and gave the stock a "hold" rating in a report on Monday, November 18th. Loop Capital lifted their target price on Samsara from $46.00 to $63.00 and gave the company a "buy" rating in a report on Thursday. Royal Bank of Canada upped their price target on Samsara from $49.00 to $64.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Wells Fargo & Company raised their price objective on shares of Samsara from $42.00 to $46.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $51.29.

Samsara Trading Down 5.2 %

Shares of IOT stock traded down $2.86 on Friday, hitting $52.27. 10,742,267 shares of the stock were exchanged, compared to its average volume of 2,404,721. The firm's 50 day moving average is $50.44 and its two-hundred day moving average is $42.40. Samsara has a one year low of $27.14 and a one year high of $57.51. The firm has a market capitalization of $29.08 billion, a PE ratio of -111.21 and a beta of 1.53.

Samsara (NYSE:IOT - Get Free Report) last posted its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share 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 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 was up 36.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.11) earnings per share. On average, sell-side analysts expect that Samsara will post -0.34 earnings per share for the current year.

Insider Transactions at Samsara

In related news, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $46.88, for a total transaction of $4,500,480.00. Following the transaction, the chief executive officer now owns 698,299 shares of the company's stock, valued at approximately $32,736,257.12. This trade represents a 12.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the business's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total transaction of $14,894,042.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,873,300 shares of company stock valued at $91,752,243. Insiders own 60.04% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Hobbs Group Advisors LLC bought a new stake in Samsara in the 3rd quarter worth $34,000. Continuum Advisory LLC boosted its holdings in shares of Samsara by 39.1% during the third quarter. Continuum Advisory LLC now owns 879 shares of the company's stock worth $45,000 after purchasing an additional 247 shares during the period. Resources Management Corp CT ADV grew its stake in shares of Samsara by 104.0% in the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company's stock worth $32,000 after purchasing an additional 490 shares during the last quarter. UMB Bank n.a. increased its holdings in Samsara by 69.1% during the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company's stock valued at $49,000 after purchasing an additional 418 shares during the period. Finally, National Bank of Canada FI bought a new position in Samsara during the 2nd quarter valued at approximately $38,000. 89.39% of the stock is owned by institutional investors.

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.