Samsara (NYSE:IOT) Raised to Buy at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Samsara (NYSE:IOT – Get Rating) from a neutral rating to a buy rating in a research note published on Friday, MarketBeat Ratings reports. The Goldman Sachs Group currently has $27.00 price target on the stock, up from their prior price target of $16.00.

A number of other equities research analysts also recently issued reports on IOT. Royal Bank of Canada boosted their price target on Samsara from $15.00 to $19.00 and gave the company an outperform rating in a research note on Monday, February 27th. Morgan Stanley lowered their price objective on Samsara from $18.00 to $17.00 and set an overweight rating on the stock in a research report on Tuesday, November 22nd. StockNews.com raised Samsara to a sell rating in a research report on Thursday, February 9th. BMO Capital Markets initiated coverage on Samsara in a research report on Wednesday, February 15th. They set a market perform rating and a $17.00 price objective on the stock. Finally, Evercore ISI lowered their price target on Samsara to $15.00 in a report on Friday, December 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $22.00.

Samsara Stock Up 15.4 %

Samsara stock opened at $19.48 on Friday. The business has a 50-day simple moving average of $13.96 and a two-hundred day simple moving average of $12.73. The company has a market cap of $10.11 billion, a P/E ratio of -40.58 and a beta of 0.92. Samsara has a 52-week low of $8.42 and a 52-week high of $20.73.

Samsara (NYSE:IOT – Get Rating) last released its quarterly earnings results on Thursday, December 1st. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.03. The business had revenue of $169.80 million during the quarter, compared to the consensus estimate of $155.64 million. Samsara had a negative return on equity of 21.12% and a negative net margin of 37.92%. Research analysts anticipate that Samsara will post -0.5 EPS for the current fiscal year.

Insider Transactions at Samsara

In other news, CAO James Andrew Munk sold 3,088 shares of the company’s stock in a transaction that occurred on Monday, December 19th. The stock was sold at an average price of $12.45, for a total transaction of $38,445.60. Following the sale, the chief accounting officer now directly owns 299,252 shares of the company’s stock, valued at approximately $3,725,687.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Adam Eltoukhy sold 31,000 shares of the business’s stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $13.05, for a total transaction of $404,550.00. Following the transaction, the insider now owns 593,213 shares of the company’s stock, valued at approximately $7,741,429.65. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO James Andrew Munk sold 3,088 shares of the business’s stock in a transaction that occurred on Monday, December 19th. The shares were sold at an average price of $12.45, for a total value of $38,445.60. Following the transaction, the chief accounting officer now directly owns 299,252 shares in the company, valued at approximately $3,725,687.40. The disclosure for this sale can be found here. Insiders have sold 1,431,747 shares of company stock valued at $19,265,045 in the last ninety days. Corporate insiders own 81.12% of the company’s stock.

Hedge Funds Weigh In On Samsara

Several large investors have recently modified their holdings of the stock. Voya Investment Management LLC bought a new position in Samsara in the 4th quarter valued at $933,000. Macquarie Group Ltd. grew its position in Samsara by 37.3% in the 4th quarter. Macquarie Group Ltd. now owns 2,391 shares of the company’s stock valued at $30,000 after acquiring an additional 649 shares during the last quarter. Coppell Advisory Solutions Corp. bought a new position in Samsara in the 4th quarter valued at $44,000. State of Wyoming bought a new position in Samsara in the 4th quarter valued at $27,000. Finally, Lazard Asset Management LLC bought a new position in Samsara in the 4th quarter valued at $127,000. Institutional investors own 43.05% of the company’s stock.

About Samsara

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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.