StockNews.com Upgrades Samsara (NYSE:IOT) to Hold

Samsara (NYSE:IOT) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other research firms have also recently issued reports on IOT. Morgan Stanley boosted their price objective on shares of Samsara from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. BNP Paribas initiated coverage on Samsara in a report on Tuesday, October 8th. They issued a “neutral” rating and a $46.00 price objective for the company. Truist Financial boosted their target price on Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Royal Bank of Canada raised their price target on Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. Finally, BMO Capital Markets boosted their price objective on shares of Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research report on Friday, September 6th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $44.20.

Samsara Trading Up 1.8 %

Shares of Samsara stock traded up $0.95 on Friday, reaching $52.72. The stock had a trading volume of 2,127,391 shares, compared to its average volume of 2,208,654. The business’s 50 day moving average is $47.48 and its two-hundred day moving average is $40.31. The company has a market cap of $29.33 billion, a P/E ratio of -109.83 and a beta of 1.52. Samsara has a 1 year low of $23.12 and a 1 year high of $52.81.

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

Insider Buying and Selling

In other Samsara news, insider John Bicket sold 64,137 shares of Samsara stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $47.48, for a total value of $3,045,224.76. Following the sale, the insider now owns 41,288 shares of the company’s stock, valued at $1,960,354.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider John Bicket sold 64,137 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $47.48, for a total transaction of $3,045,224.76. Following the transaction, the insider now directly owns 41,288 shares in the company, valued at $1,960,354.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjit Biswas sold 64,188 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $47.48, for a total transaction of $3,047,646.24. Following the transaction, the chief executive officer now owns 41,272 shares of the company’s stock, valued at $1,959,594.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,864,730 shares of company stock worth $84,375,885. Corporate insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

A number of institutional investors have recently modified their holdings of the business. Advisors Asset Management Inc. grew its position in Samsara by 9.4% during the first quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock worth $123,000 after buying an additional 280 shares during the period. Assenagon Asset Management S.A. increased its stake in Samsara by 3.5% during the third quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company’s stock worth $433,000 after acquiring an additional 304 shares during the last quarter. UMB Bank n.a. lifted its stake 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 in the last quarter. Resources Management Corp CT ADV boosted its stake in shares of Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after buying an additional 490 shares during the last quarter. Finally, Cetera Advisors LLC increased its stake in Samsara by 6.8% during the first quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock valued at $295,000 after purchasing an additional 497 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.