Samsara (NYSE:IOT) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Samsara (NYSE:IOT) had its price target boosted by investment analysts at BMO Capital Markets from $44.00 to $57.00 in a research note issued to investors on Friday,Briefing.com Automated Import reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 3.39% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. StockNews.com raised shares of Samsara from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. BNP Paribas started coverage on shares of Samsara in a report on Tuesday, October 8th. They set a “neutral” rating and a $46.00 target price for the company. Loop Capital increased their price target on Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a report on Thursday. Craig Hallum started coverage on shares of Samsara in a research report on Tuesday, October 22nd. They set a “hold” rating and a $48.00 price objective for the company. Finally, Evercore ISI lifted their target price on Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a research report on Friday, September 6th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $49.64.

Samsara Price Performance

Shares of IOT stock opened at $55.13 on Friday. Samsara has a 1-year low of $27.14 and a 1-year high of $57.51. The company has a market cap of $30.67 billion, a price-to-earnings ratio of -114.85 and a beta of 1.53. The stock’s fifty day moving average price is $50.35 and its 200 day moving average price is $42.33.

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

Insider Buying and Selling

In related news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total transaction of $14,894,042.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $46.88, for a total value of $4,500,480.00. Following the sale, the chief executive officer now owns 698,299 shares of the company’s stock, valued at approximately $32,736,257.12. This represents a 12.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,873,300 shares of company stock worth $91,752,243 in the last three months. Corporate insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

Several institutional investors and hedge funds have recently modified their holdings of the company. Baillie Gifford & Co. grew its stake in shares of Samsara by 23.4% during the 3rd quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock valued at $1,628,592,000 after buying an additional 6,411,178 shares during the period. FMR LLC raised its holdings in Samsara by 15.6% in the third quarter. FMR LLC now owns 11,890,600 shares of the company’s stock valued at $572,176,000 after buying an additional 1,604,822 shares during the period. 1832 Asset Management L.P. lifted its position in Samsara by 6.6% during the second 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. Westfield Capital Management Co. LP grew its stake in Samsara by 4.1% during the third quarter. Westfield Capital Management Co. LP now owns 3,506,681 shares of the company’s stock worth $168,741,000 after buying an additional 138,702 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Samsara by 9.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,279,383 shares of the company’s stock valued at $109,307,000 after purchasing an additional 196,867 shares in the last quarter. 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.