Piper Sandler Increases Samsara (NYSE:IOT) Price Target to $50.00

Samsara (NYSE:IOT) had its price objective raised by Piper Sandler from $40.00 to $50.00 in a report published on Friday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Several other analysts also recently issued reports on the company. Evercore ISI boosted their price target on Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a research note on Friday, September 6th. StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Truist Financial raised their price target on shares of Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a research report on Monday, November 18th. Loop Capital boosted their price objective on shares of Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a report on Thursday. Finally, Craig Hallum started coverage on shares of Samsara in a report on Tuesday, October 22nd. They set a “hold” rating and a $48.00 target price on the stock. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Samsara presently has a consensus rating of “Hold” and a consensus price target of $51.29.

Samsara Price Performance

Shares of IOT opened at $52.26 on Friday. The company’s 50-day moving average is $50.35 and its 200-day moving average is $42.33. Samsara has a fifty-two week low of $27.14 and a fifty-two week high of $57.51.

Samsara (NYSE:IOT) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The firm had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.53 million. During the same period last year, the business posted ($0.11) earnings per share. The business’s revenue for the quarter was up 36.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Samsara will post -0.34 EPS for the current fiscal year.

Insider Activity

In other news, insider Adam Eltoukhy sold 5,008 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $47.30, for a total value of $236,878.40. Following the sale, the insider now directly owns 455,797 shares in the company, valued at approximately $21,559,198.10. This trade represents a 1.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO James Andrew Munk sold 1,093 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $47.31, for a total transaction of $51,709.83. Following the transaction, the chief accounting officer now owns 319,667 shares of the company’s stock, valued at approximately $15,123,445.77. This represents a 0.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,873,300 shares of company stock worth $91,752,243. Insiders own 60.04% of the company’s stock.

Institutional Trading of Samsara

A number of hedge funds have recently added to or reduced their stakes in IOT. Continuum Advisory LLC lifted its stake in shares of Samsara by 39.1% in the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock valued at $45,000 after acquiring an additional 247 shares during the last quarter. Private Trust Co. NA raised its position in 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 last quarter. Assenagon Asset Management S.A. raised its position in Samsara by 3.5% in the third quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company’s stock valued at $433,000 after purchasing an additional 304 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Samsara by 5.1% during the third quarter. Wellington Management Group LLP now owns 7,959 shares of the company’s stock valued at $383,000 after purchasing an additional 388 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Samsara by 69.1% during the third quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after purchasing an additional 418 shares during the last quarter. Institutional investors and hedge funds own 89.39% of the company’s stock.

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.