Samsara (NYSE:IOT) Given New $40.00 Price Target at Piper Sandler

Samsara (NYSE:IOT) had its price objective hoisted by investment analysts at Piper Sandler from $36.00 to $40.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 3.17% from the stock’s current price.

IOT has been the topic of several other reports. Bank of America boosted their price objective on Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday. BMO Capital Markets increased their price target on Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a research report on Friday. StockNews.com lowered shares of Samsara from a “hold” rating to a “sell” rating in a research note on Wednesday, August 21st. Evercore ISI raised their price target on shares of Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a research note on Friday. Finally, Loop Capital reissued a “buy” rating and issued a $42.00 target price on shares of Samsara in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $39.00.

Samsara Price Performance

IOT stock opened at $38.77 on Friday. The company has a market cap of $21.35 billion, a P/E ratio of -77.54 and a beta of 1.49. The stock’s fifty day moving average price is $37.91 and its 200-day moving average price is $35.96. Samsara has a 1 year low of $21.48 and a 1 year high of $42.49.

Samsara (NYSE:IOT) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. Samsara had a negative return on equity of 21.66% and a negative net margin of 27.14%. The business had revenue of $300.20 million for the quarter, compared to the consensus estimate of $289.53 million. During the same period in the previous year, the business earned ($0.11) earnings per share. The business’s revenue was up 36.9% on a year-over-year basis. As a group, analysts expect that Samsara will post -0.39 earnings per share for the current year.

Insider Buying and Selling

In other Samsara news, insider John Bicket sold 93,212 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $39.92, for a total value of $3,721,023.04. Following the completion of the transaction, the insider now directly owns 76,800 shares of the company’s stock, valued at $3,065,856. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider John Bicket sold 93,212 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $39.92, for a total value of $3,721,023.04. Following the transaction, the insider now owns 76,800 shares of the company’s stock, valued at approximately $3,065,856. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO James Andrew Munk sold 1,105 shares of Samsara 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 sale, the chief accounting officer now directly owns 337,523 shares in the company, valued at approximately $10,129,065.23. The disclosure for this sale can be found here. Insiders sold 1,801,854 shares of company stock valued at $64,479,185 over the last ninety days. Corporate insiders own 60.04% of the company’s stock.

Institutional Investors Weigh In On Samsara

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IOT. Baillie Gifford & Co. boosted its holdings in shares of Samsara by 18.1% in the 2nd quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock valued at $924,499,000 after buying an additional 4,207,974 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Samsara by 18.8% during 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 purchasing an additional 2,797,326 shares during the period. Vanguard Group Inc. boosted its stake in Samsara by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock valued at $646,253,000 after purchasing an additional 1,841,149 shares during the period. 1832 Asset Management L.P. boosted its stake in Samsara by 6.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company’s stock valued at $273,930,000 after purchasing an additional 500,400 shares during the period. Finally, Westfield Capital Management Co. LP boosted its stake in Samsara by 12.2% during the 1st quarter. Westfield Capital Management Co. LP now owns 2,228,759 shares of the company’s stock valued at $84,225,000 after purchasing an additional 243,170 shares during the period. Hedge funds and other 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.