JPMorgan Chase & Co. Issues Positive Forecast for Samsara (NYSE:IOT) Stock Price

Samsara (NYSE:IOT - Free Report) had its price target increased by JPMorgan Chase & Co. from $40.00 to $44.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages also recently issued reports on IOT. Bank of America raised their price target on shares of Samsara from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Friday, September 6th. BMO Capital Markets raised their target price on Samsara from $44.00 to $57.00 and gave the stock a "market perform" rating in a research note on Friday. TD Cowen upped their price target on Samsara from $46.00 to $56.00 and gave the company a "buy" rating in a research note on Friday, October 11th. BNP Paribas began coverage on Samsara in a report on Tuesday, October 8th. They set a "neutral" rating and a $46.00 price target for the company. Finally, Morgan Stanley boosted their price objective on shares of Samsara from $40.00 to $52.00 and gave the company an "equal weight" rating in a report on Wednesday, November 20th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $51.29.

Samsara Trading Down 5.2 %

IOT stock traded down $2.86 during mid-day trading on Friday, reaching $52.27. The company's stock had a trading volume of 10,742,267 shares, compared to its average volume of 2,404,721. The company's 50 day moving average is $50.44 and its two-hundred day moving average is $42.40. Samsara has a fifty-two week low of $27.14 and a fifty-two week high of $57.51. The stock has a market cap 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 quarterly earnings results on Thursday, September 5th. The company reported $0.05 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 analysts' expectations of $289.53 million. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The business'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. On average, analysts forecast that Samsara will post -0.34 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Sanjit Biswas sold 96,000 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 698,299 shares in the company, valued at approximately $32,736,257.12. This represents a 12.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the firm's stock in a transaction that occurred on Wednesday, September 11th. The shares were 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. Over the last quarter, insiders sold 1,873,300 shares of company stock valued at $91,752,243. 60.04% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Samsara

Large investors have recently modified their holdings of the company. Cetera Advisors LLC boosted its stake in shares of Samsara by 6.8% during the 1st quarter. Cetera Advisors LLC now owns 7,805 shares of the company's stock worth $295,000 after acquiring an additional 497 shares in the last quarter. RFG Advisory LLC grew its holdings in Samsara by 41.5% during the 2nd quarter. RFG Advisory LLC now owns 12,486 shares of the company's stock worth $421,000 after acquiring an additional 3,662 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Samsara by 165.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 15,848 shares of the company's stock worth $534,000 after buying an additional 9,875 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new position in shares of Samsara in the 2nd quarter worth approximately $506,000. Finally, Swedbank AB bought a new stake in shares of Samsara in the 2nd quarter valued at approximately $105,000. 89.39% of the stock is owned by hedge funds and other institutional investors.

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.