Piper Sandler Increases Samsara (NYSE:IOT) Price Target to $50.00

Samsara (NYSE:IOT - Get Free Report) had its price target lifted by equities research analysts at Piper Sandler from $40.00 to $50.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Piper Sandler's price objective indicates a potential downside of 4.34% from the company's current price.

A number of other research analysts have also recently commented on the company. TD Cowen raised their target price on Samsara from $46.00 to $56.00 and gave the company a "buy" rating in a research note on Friday, October 11th. Morgan Stanley boosted their target price 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. BNP Paribas started coverage on shares of Samsara in a research note on Tuesday, October 8th. They issued a "neutral" rating and a $46.00 price target for the company. StockNews.com raised shares of Samsara from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company upped their price objective 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 six have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $51.29.

Samsara Stock Performance

IOT stock traded down $2.86 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 firm has a market cap of $29.08 billion, a PE ratio of -111.21 and a beta of 1.53. The business has a fifty day simple moving average of $50.44 and a two-hundred day simple moving average of $42.40. Samsara has a 12-month low of $27.14 and a 12-month high of $57.51.

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

Insider Transactions at Samsara

In other news, major shareholder Sanjit Biswas sold 83,333 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $53.81, for a total transaction of $4,484,148.73. Following the completion of the transaction, the insider now directly owns 19,200 shares of the company's stock, valued at $1,033,152. The trade was a 81.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO James Andrew Munk sold 1,093 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total transaction of $51,709.83. Following the transaction, the chief accounting officer now owns 319,667 shares in the company, valued at approximately $15,123,445.77. This trade represents a 0.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,873,300 shares of company stock worth $91,752,243 over the last quarter. 60.04% of the stock is currently owned by insiders.

Institutional Trading of Samsara

Several large investors have recently modified their holdings of IOT. Franklin Resources Inc. bought a new stake in Samsara during the third quarter valued at approximately $10,868,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Samsara during the 3rd quarter valued at $546,000. Virtu Financial LLC purchased a new stake in shares of Samsara in the 3rd quarter worth $1,689,000. Hobbs Group Advisors LLC bought a new position in Samsara in the 3rd quarter worth $34,000. Finally, Teachers Retirement System of The State of Kentucky lifted its position in Samsara by 2.0% during the third 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 in the last quarter. 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.