Samsara’s (IOT) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Samsara (NYSE:IOTFree Report) in a research note published on Friday, Benzinga reports. They currently have a $47.00 price objective on the stock.

Several other analysts also recently commented on IOT. StockNews.com raised shares of Samsara from a sell rating to a hold rating in a research report on Saturday, May 25th. Loop Capital started coverage on shares of Samsara in a report on Thursday, April 18th. They set a buy rating and a $42.00 price target on the stock. Finally, Evercore ISI reduced their price target on shares of Samsara from $41.00 to $40.00 and set an in-line rating for the company in a research report on Friday. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Samsara has an average rating of Hold and an average price target of $34.91.

Get Our Latest Stock Analysis on IOT

Samsara Stock Performance

IOT stock opened at $30.55 on Friday. Samsara has a 52-week low of $21.48 and a 52-week high of $42.28. The firm has a market capitalization of $16.82 billion, a price-to-earnings ratio of -57.64 and a beta of 1.51. The firm has a 50 day moving average price of $35.84 and a 200-day moving average price of $34.31.

Samsara (NYSE:IOTGet Free Report) last announced its quarterly earnings data on Thursday, March 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). Samsara had a negative return on equity of 22.90% and a negative net margin of 30.59%. The business had revenue of $276.27 million during the quarter, compared to analysts’ expectations of $258.56 million. As a group, sell-side analysts forecast that Samsara will post -0.4 earnings per share for the current fiscal year.

Insider Activity at Samsara

In other Samsara news, CAO James Andrew Munk sold 9,714 shares of Samsara stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $35.46, for a total value of $344,458.44. Following the completion of the sale, the chief accounting officer now owns 307,185 shares of the company’s stock, valued at approximately $10,892,780.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Samsara news, insider Adam Eltoukhy sold 72,300 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $38.71, for a total value of $2,798,733.00. Following the transaction, the insider now owns 194,735 shares of the company’s stock, valued at $7,538,191.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO James Andrew Munk sold 9,714 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $35.46, for a total value of $344,458.44. Following the sale, the chief accounting officer now owns 307,185 shares of the company’s stock, valued at $10,892,780.10. The disclosure for this sale can be found here. Insiders have sold a total of 1,772,783 shares of company stock worth $64,729,455 over the last quarter. Company insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

Institutional investors have recently made changes to their positions in the business. Boulder Hill Capital Management LP purchased a new stake in Samsara during the fourth quarter valued at approximately $1,115,000. Charles Schwab Investment Management Inc. raised its holdings in Samsara by 40.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 889,656 shares of the company’s stock worth $22,428,000 after purchasing an additional 254,473 shares during the period. Creative Planning purchased a new position in Samsara during the third quarter valued at $5,878,000. CHURCHILL MANAGEMENT Corp bought a new stake in Samsara during the fourth quarter valued at about $854,000. Finally, Norges Bank purchased a new stake in Samsara in the fourth quarter worth about $11,693,000. Institutional investors own 89.39% of the company’s stock.

Samsara Company Profile

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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.

Further Reading

Analyst Recommendations for Samsara (NYSE:IOT)

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