Samsara (NYSE:IOT) Given Neutral Rating at Piper Sandler

Piper Sandler reissued their neutral rating on shares of Samsara (NYSE:IOT) in a research note published on Friday, Benzinga reports. The brokerage currently has a $36.00 target price on the stock.

Other research analysts have also issued research reports about the stock. Wolfe Research reaffirmed an outperform rating and set a $44.00 target price on shares of Samsara in a research note on Friday. Evercore ISI lowered their target price on shares of Samsara from $41.00 to $40.00 and set an in-line rating for the company in a research note on Friday, June 7th. Loop Capital reissued a buy rating and issued a $42.00 price objective on shares of Samsara in a research note on Friday. BMO Capital Markets reissued a market perform rating and issued a $40.00 price objective on shares of Samsara in a research note on Tuesday, June 11th. Finally, Royal Bank of Canada reissued an outperform rating and issued a $47.00 price objective on shares of Samsara in a research note on Wednesday, June 26th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $37.17.

Samsara Price Performance

Shares of IOT stock opened at $34.86 on Friday. The firm has a market cap of $19.20 billion, a PE ratio of -69.72 and a beta of 1.49. The company has a 50-day moving average of $35.09 and a two-hundred day moving average of $34.25. Samsara has a 1-year low of $21.48 and a 1-year high of $42.28.

Samsara (NYSE:IOT) last announced its earnings results on Thursday, June 6th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.02. The company had revenue of $280.73 million during the quarter, compared to analyst estimates of $272.51 million. Samsara had a negative net margin of 27.14% and a negative return on equity of 21.66%. Sell-side analysts anticipate that Samsara will post -0.39 EPS for the current fiscal year.

Insider Transactions at Samsara

In other Samsara news, CAO James Andrew Munk sold 1,105 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $30.01, for a total value of $33,161.05. Following the transaction, the chief accounting officer now directly owns 337,523 shares of the company’s stock, valued at approximately $10,129,065.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Sanjit Biswas sold 7,674 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $40.16, for a total transaction of $308,187.84. Following the transaction, the chief executive officer now directly owns 1,584,712 shares of the company’s stock, valued at approximately $63,642,033.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO James Andrew Munk sold 1,105 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $30.01, for a total transaction of $33,161.05. Following the transaction, the chief accounting officer now directly owns 337,523 shares in the company, valued at $10,129,065.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,590,053 shares of company stock worth $54,058,378. 60.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Samsara

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. 1832 Asset Management L.P. grew its stake in Samsara by 102.1% in the 1st quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock valued at $288,266,000 after acquiring an additional 3,853,400 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Samsara by 18.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock valued at $666,584,000 after acquiring an additional 2,797,326 shares during the last quarter. Vanguard Group Inc. grew its stake in Samsara by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock valued at $646,253,000 after acquiring an additional 1,841,149 shares during the last quarter. Baillie Gifford & Co. grew its stake in Samsara by 3.7% in the 1st quarter. Baillie Gifford & Co. now owns 23,225,238 shares of the company’s stock valued at $877,682,000 after acquiring an additional 827,848 shares during the last quarter. Finally, Blair William & Co. IL grew its stake in Samsara by 1,601.3% in the 1st quarter. Blair William & Co. IL now owns 744,929 shares of the company’s stock valued at $28,151,000 after acquiring an additional 701,144 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.