Samsara Inc. (NYSE:IOT) Receives Average Recommendation of “Buy” from Brokerages

Shares of Samsara Inc. (NYSE:IOT – Get Rating) have received an average rating of “Buy” from the ten analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $28.75.

A number of research firms have commented on IOT. Wells Fargo & Company reduced their price target on shares of Samsara from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, March 3rd. Cowen reduced their price target on shares of Samsara from $31.00 to $27.00 in a report on Thursday, March 3rd. Morgan Stanley reduced their price target on shares of Samsara from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday, March 3rd. StockNews.com initiated coverage on shares of Samsara in a report on Thursday, March 31st. They issued a “sell” rating for the company. Finally, The Goldman Sachs Group dropped their price objective on shares of Samsara from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, April 14th.

In related news, insider Kiren Sekar sold 60,534 shares of the firm’s stock in a transaction dated Tuesday, March 15th. The shares were sold at an average price of $13.34, for a total transaction of $807,523.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 81.12% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. bought a new position in shares of Samsara during the fourth quarter valued at about $28,000. Bank of America Corp DE bought a new position in shares of Samsara during the fourth quarter valued at about $38,000. Advisor Group Holdings Inc. bought a new position in shares of Samsara during the fourth quarter valued at about $93,000. Cubist Systematic Strategies LLC purchased a new stake in Samsara during the fourth quarter worth about $195,000. Finally, Brandywine Managers LLC purchased a new stake in Samsara during the fourth quarter worth about $270,000. 45.47% of the stock is currently owned by institutional investors.

IOT opened at $11.19 on Friday. Samsara has a twelve month low of $8.72 and a twelve month high of $31.41. The business’s fifty day moving average price is $14.36.

Samsara (NYSE:IOT – Get Rating) last posted its quarterly earnings data on Wednesday, March 2nd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm had revenue of $125.75 million for the quarter, compared to analyst estimates of $116.15 million. Research analysts anticipate that Samsara will post -0.26 EPS for the current year.

About Samsara (Get Rating)

Samsara Inc provides solutions that connect 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; and applications for video-based safety, vehicle telematics, apps and driver workflows, equipment monitoring, and site visibility.

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