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

Samsara (NYSE:IOT) had its target price upped by equities researchers at Loop Capital from $46.00 to $63.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Loop Capital’s target price indicates a potential upside of 14.42% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Evercore ISI lifted their price target on Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a research report on Friday, September 6th. TD Cowen increased their price target on shares of Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Morgan Stanley lifted their price objective on shares of Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a report on Wednesday, November 20th. BNP Paribas initiated coverage on shares of Samsara in a research note on Tuesday, October 8th. They set a “neutral” rating and a $46.00 target price on the stock. Finally, Craig Hallum started coverage on Samsara in a research note on Tuesday, October 22nd. They set a “hold” rating and a $48.00 target price for the company. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Samsara has an average rating of “Hold” and an average target price of $48.71.

Samsara Price Performance

Samsara stock traded down $0.78 during trading hours on Thursday, hitting $55.06. 2,581,286 shares of the stock traded hands, compared to its average volume of 3,503,183. Samsara has a 1 year low of $27.14 and a 1 year high of $57.51. The stock has a market capitalization of $30.63 billion, a price-to-earnings ratio of -114.71 and a beta of 1.53. The firm’s 50 day moving average price is $50.22 and its 200-day moving average price is $42.24.

Samsara (NYSE:IOT) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.05 EPS for the quarter, beating 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 net margin of 24.19% and a negative return on equity of 20.39%. The business’s quarterly revenue was up 36.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.11) EPS. Research analysts forecast that Samsara will post -0.34 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO James Andrew Munk sold 1,093 shares of Samsara stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total value of $51,709.83. Following the completion of the sale, the chief accounting officer now owns 319,667 shares in the company, valued at approximately $15,123,445.77. This trade represents a 0.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $46.88, for a total transaction of $4,500,480.00. Following the sale, the chief executive officer now directly owns 698,299 shares in the company, valued at $32,736,257.12. This represents a 12.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,719,376 shares of company stock valued at $83,359,468 in the last 90 days. Company insiders own 60.04% of the company’s stock.

Institutional Trading of Samsara

Hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. purchased a new position in Samsara in the third quarter worth approximately $10,868,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Samsara during the third quarter worth about $546,000. Virtu Financial LLC acquired a new stake in shares of Samsara during the third quarter worth about $1,689,000. Hobbs Group Advisors LLC purchased a new stake in shares of Samsara in the 3rd quarter valued at about $34,000. Finally, Teachers Retirement System of The State of Kentucky grew its stake in Samsara by 2.0% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 149,789 shares of the company’s stock worth $7,208,000 after buying an additional 3,000 shares during the last quarter. 89.39% of the stock is currently 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.