Samsara (NYSE:IOT) PT Raised to $49.00 at Royal Bank of Canada

Samsara (NYSE:IOT) had its target price upped by research analysts at Royal Bank of Canada from $47.00 to $49.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 26.39% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the company. Piper Sandler reiterated a “neutral” rating and issued a $36.00 target price on shares of Samsara in a research note on Friday, June 28th. Evercore ISI cut their target price on Samsara from $41.00 to $40.00 and set an “in-line” rating on the stock in a research note on Friday, June 7th. BMO Capital Markets raised their target price on Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research note on Friday. Wolfe Research reiterated an “outperform” rating and issued a $44.00 target price on shares of Samsara in a research note on Friday, June 28th. Finally, Bank of America lifted their price objective on shares of Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $39.00.

Samsara Price Performance

Samsara stock opened at $38.77 on Friday. The company has a market cap of $21.35 billion, a PE ratio of -77.54 and a beta of 1.49. The company has a fifty day moving average price of $37.91 and a two-hundred day moving average price of $35.96. Samsara has a 12 month low of $21.48 and a 12 month high of $42.49.

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

Insider Buying and Selling

In related news, CAO James Andrew Munk sold 1,105 shares of Samsara stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $30.01, for a total value of $33,161.05. Following the transaction, the chief accounting officer now owns 337,523 shares of the company’s stock, valued at approximately $10,129,065.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Samsara news, insider Dominic Phillips sold 21,053 shares of Samsara stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $30.49, for a total transaction of $641,905.97. Following the transaction, the insider now owns 1,137,989 shares of the company’s stock, valued at approximately $34,697,284.61. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO James Andrew Munk sold 1,105 shares of Samsara stock in a transaction dated 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 in the company, valued at approximately $10,129,065.23. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,801,854 shares of company stock valued at $64,479,185. 60.04% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Samsara

Several large investors have recently made changes to their positions in the company. Baillie Gifford & Co. grew its stake 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 in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of 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 buying an additional 2,797,326 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of 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 buying an additional 1,841,149 shares in the last quarter. 1832 Asset Management L.P. grew its stake in shares of Samsara by 6.6% in 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 buying an additional 500,400 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in shares of Samsara by 12.2% in 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 buying an additional 243,170 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.