Samsara (NYSE:IOT) Stock Rating Upgraded by StockNews.com

Samsara (NYSE:IOT) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

IOT has been the subject of several other reports. TD Cowen raised their price objective on Samsara from $46.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Wells Fargo & Company lifted their price target on Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Truist Financial increased their price objective on shares of Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Evercore ISI lifted their target price on shares of Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. Finally, Loop Capital increased their price target on shares of Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $43.31.

Samsara Stock Performance

Shares of IOT opened at $47.28 on Tuesday. The stock has a market capitalization of $26.04 billion, a P/E ratio of -94.14 and a beta of 1.52. Samsara has a 1 year low of $21.48 and a 1 year high of $51.53. The company’s fifty day moving average is $45.43 and its two-hundred day moving average is $38.83.

Samsara (NYSE:IOT) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The company had revenue of $300.20 million for the quarter, compared to analyst estimates 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 for the quarter was up 36.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.11) EPS. Sell-side analysts predict that Samsara will post -0.34 EPS for the current year.

Insiders Place Their Bets

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 value of $14,894,042.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider John Bicket sold 65,632 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $36.82, for a total value of $2,416,570.24. Following the completion of the transaction, the insider now directly owns 1,478,408 shares in the company, valued at approximately $54,434,982.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $45.06, for a total transaction of $14,894,042.28. The disclosure for this sale can be found here. Insiders sold a total of 1,849,061 shares of company stock worth $80,282,052 over the last ninety days. 60.04% of the stock is owned by company insiders.

Institutional Investors Weigh In On Samsara

Several hedge funds and other institutional investors have recently bought and sold shares of IOT. Resources Management Corp CT ADV raised its stake in shares of Samsara by 104.0% in the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after purchasing an additional 490 shares in the last quarter. National Bank of Canada FI acquired a new stake in Samsara during the second quarter valued at approximately $38,000. Nemes Rush Group LLC bought a new position in Samsara during the 2nd quarter worth approximately $45,000. UMB Bank n.a. grew its position in shares of Samsara by 69.1% in the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after acquiring an additional 418 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Samsara by 250.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock valued at $67,000 after acquiring an additional 1,000 shares during the last quarter. 89.39% of the stock is currently owned by hedge funds and other institutional investors.

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.