Samsara (NYSE:IOT) Price Target Raised to $50.00 at Truist Financial

Samsara (NYSE:IOT - Get Free Report) had its price objective hoisted by Truist Financial from $40.00 to $50.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Truist Financial's target price points to a potential upside of 1.04% from the stock's previous close.

A number of other research analysts have also recently commented on IOT. Morgan Stanley upped their price target on shares of Samsara from $38.00 to $40.00 and gave the stock an "equal weight" rating in a 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 stock a "neutral" rating in a report on Friday, September 6th. Bank of America boosted their target price on shares of Samsara from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. Evercore ISI increased their price objective on Samsara from $40.00 to $42.00 and gave the company an "in-line" rating in a report on Friday, September 6th. Finally, TD Cowen boosted their target price on shares of Samsara from $46.00 to $56.00 and gave the company a "buy" rating in a research report on Friday, October 11th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $44.87.

Samsara Price Performance

NYSE IOT traded down $0.02 during trading on Monday, hitting $49.49. 1,923,778 shares of the company's stock traded hands, compared to its average volume of 3,551,275. Samsara has a 12-month low of $25.76 and a 12-month high of $53.98. The firm has a market cap of $27.53 billion, a P/E ratio of -103.09 and a beta of 1.52. The stock has a fifty day moving average of $48.61 and a two-hundred day moving average of $40.93.

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 analysts' consensus estimates of $0.01 by $0.04. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The business had revenue of $300.20 million during the quarter, compared to analyst estimates of $289.53 million. During the same quarter last year, the company earned ($0.11) EPS. The company's quarterly revenue was up 36.9% compared to the same quarter last year. As a group, analysts expect that Samsara will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Samsara

In related news, CAO James Andrew Munk sold 1,093 shares of the stock in a transaction on Tuesday, September 10th. The shares were 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. This trade represents a 0.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Adam Eltoukhy sold 9,308 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $50.64, for a total value of $471,357.12. Following the completion of the sale, the insider now directly owns 396,784 shares of the company's stock, valued at $20,093,141.76. The trade was a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,864,730 shares of company stock worth $84,375,885 in the last ninety days. 60.04% of the stock is owned by insiders.

Institutional Investors Weigh In On Samsara

Large investors have recently added to or reduced their stakes in the business. Continuum Advisory LLC grew its stake in Samsara by 39.1% in the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company's stock worth $45,000 after acquiring an additional 247 shares during the period. Private Trust Co. NA grew its position in shares of Samsara by 19.2% in the third quarter. Private Trust Co. NA now owns 1,550 shares of the company's stock valued at $75,000 after purchasing an additional 250 shares during the period. Advisors Asset Management Inc. increased its stake in Samsara by 9.4% in the first quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company's stock valued at $123,000 after purchasing an additional 280 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Samsara by 3.5% during the third quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company's stock worth $433,000 after buying an additional 304 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Samsara by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 7,959 shares of the company's stock worth $383,000 after buying an additional 388 shares during the last quarter. 89.39% of the stock is owned by institutional investors and hedge funds.

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.