Samsara (NYSE:IOT) Price Target Raised to $46.00 at Wells Fargo & Company

Samsara (NYSE:IOT) had its target price upped by Wells Fargo & Company from $42.00 to $46.00 in a research report released on Friday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts have also issued reports about the stock. Royal Bank of Canada lifted their target price on shares of Samsara from $47.00 to $49.00 and gave the company an outperform rating in a report on Friday. Loop Capital reiterated a buy rating and issued a $42.00 price objective on shares of Samsara in a research report on Friday, June 28th. Wolfe Research restated an outperform rating and set a $44.00 target price on shares of Samsara in a research report on Friday, June 28th. Evercore ISI upped their price target on Samsara from $40.00 to $42.00 and gave the stock an in-line rating in a report on Friday. Finally, 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. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Samsara has an average rating of Moderate Buy and an average target price of $42.07.

Samsara Price Performance

NYSE IOT opened at $46.14 on Friday. The company has a fifty day moving average of $38.34 and a 200 day moving average of $36.18. The company has a market capitalization of $25.41 billion, a PE ratio of -92.28 and a beta of 1.50. Samsara has a 1 year low of $21.48 and a 1 year high of $46.22.

Samsara (NYSE:IOT) last issued 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. The firm had revenue of $300.20 million for the quarter, compared to the consensus estimate of $289.53 million. Samsara had a negative return on equity of 20.58% and a negative net margin of 24.19%. The company’s revenue was up 36.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.11) earnings per share. Research analysts expect that Samsara will post -0.39 earnings per share for the current year.

Insider Transactions at Samsara

In other news, CEO Sanjit Biswas sold 93,107 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $39.92, for a total value of $3,716,831.44. Following the transaction, the chief executive officer now directly owns 76,800 shares of the company’s stock, valued at $3,065,856. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Marc L. Andreessen sold 277,484 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $28.88, for a total value of $8,013,737.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjit Biswas sold 93,107 shares of Samsara stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $39.92, for a total value of $3,716,831.44. Following the transaction, the chief executive officer now owns 76,800 shares in the company, valued at approximately $3,065,856. The disclosure for this sale can be found here. Insiders sold 1,683,696 shares of company stock valued at $60,945,238 over the last 90 days. 60.04% of the stock is currently owned by corporate insiders.

Institutional Trading of Samsara

Large investors have recently added to or reduced their stakes in the stock. Boulder Hill Capital Management LP purchased a new position in shares of Samsara during the 4th quarter worth $1,115,000. Charles Schwab Investment Management Inc. raised its stake in Samsara by 9.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 969,429 shares of the company’s stock worth $32,360,000 after purchasing an additional 79,773 shares during the period. CHURCHILL MANAGEMENT Corp boosted its holdings in Samsara by 135.6% in the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 60,251 shares of the company’s stock valued at $2,277,000 after purchasing an additional 34,679 shares during the last quarter. Mission Wealth Management LP purchased a new stake in shares of Samsara in the 1st quarter valued at approximately $1,100,000. Finally, Quarry LP acquired a new stake in shares of Samsara during the 4th quarter worth approximately $37,000. 89.39% of the stock is currently owned by hedge funds and other institutional investors.

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.