Samsara (NYSE:IOT) PT Lowered to $20.00

Samsara (NYSE:IOTGet Rating) had its target price cut by equities researchers at Wells Fargo & Company to $20.00 in a research report issued to clients and investors on Wednesday, Stock Target Advisor reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 91.75% from the stock’s previous close.

IOT has been the topic of several other research reports. Morgan Stanley dropped their price objective on Samsara from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, March 3rd. The Goldman Sachs Group dropped their price objective on Samsara from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, April 14th. StockNews.com started coverage on Samsara in a report on Thursday, March 31st. They set a “sell” rating on the stock. Finally, Cowen dropped their price objective on Samsara from $31.00 to $27.00 in a report on Thursday, March 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $28.00.

Shares of IOT traded down $0.26 during midday trading on Wednesday, reaching $10.43. The stock had a trading volume of 10,810 shares, compared to its average volume of 1,459,966. The business has a fifty day moving average price of $14.11. Samsara has a 1-year low of $8.72 and a 1-year high of $31.41.

Samsara (NYSE:IOTGet Rating) last issued its quarterly earnings data on Wednesday, March 2nd. The company reported ($0.05) earnings per share (EPS) 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 analysts’ expectations of $116.15 million. Equities research analysts expect that Samsara will post -0.26 EPS for the current year.

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 value of $807,523.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Several hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. acquired a new stake in shares of Samsara during the 4th quarter valued at approximately $28,000. Bank of America Corp DE acquired a new stake in shares of Samsara during the 4th quarter valued at approximately $38,000. Royal Bank of Canada lifted its position in shares of Samsara by 61.6% during the 1st quarter. Royal Bank of Canada now owns 6,127 shares of the company’s stock valued at $98,000 after acquiring an additional 2,335 shares during the period. Advisor Group Holdings Inc. acquired a new stake in shares of Samsara during the 4th quarter valued at approximately $93,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Samsara during the 4th quarter valued at approximately $195,000. Institutional investors own 45.47% of the company’s stock.

Samsara Company Profile (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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