Samsara (NYSE:IOT) Shares Down 10.7%

Samsara Inc. (NYSE:IOTGet Rating)’s stock price fell 10.7% during mid-day trading on Thursday . The stock traded as low as $10.15 and last traded at $10.16. 37,822 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 1,630,769 shares. The stock had previously closed at $11.38.

Several brokerages have recently commented on IOT. Cowen reduced their target price on Samsara to $20.00 in a report on Friday, May 27th. initiated coverage on Samsara in a research note on Thursday, March 31st. They issued a “sell” rating for the company. Cowen dropped their target price on Samsara from $31.00 to $27.00 in a report on Thursday, March 3rd. The Goldman Sachs Group reduced their price target on Samsara from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, April 14th. Finally, Wells Fargo & Company lowered their target price on Samsara to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, May 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. Based on data from, Samsara presently has an average rating of “Buy” and an average target price of $26.00.

The stock has a 50 day moving average price of $11.84.

Samsara (NYSE:IOTGet Rating) last issued its earnings results on Thursday, June 2nd. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. On average, research analysts predict that Samsara Inc. will post -0.46 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in IOT. Bessemer Group Inc. bought a new position in shares of Samsara in the fourth quarter worth $28,000. Bank of America Corp DE acquired a new stake in shares of Samsara in the fourth quarter worth $38,000. Royal Bank of Canada lifted its stake in shares of Samsara by 61.6% in the first quarter. Royal Bank of Canada now owns 6,127 shares of the company’s stock worth $98,000 after buying an additional 2,335 shares during the last quarter. Advisor Group Holdings Inc. bought a new position in Samsara during the fourth quarter worth $93,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Samsara in the 4th quarter valued at $195,000. 45.47% of the stock is currently owned by institutional investors.

About Samsara (NYSE:IOT)

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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