Samsara Inc. (NYSE:IOT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Samsara Inc. (NYSE:IOT) have been assigned a consensus rating of “Moderate Buy” from the sixteen analysts that are presently covering the stock, MarketBeat reports. Eight research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $50.64.

A number of equities analysts have commented on the company. Piper Sandler set a $53.00 target price on Samsara and gave the company an “overweight” rating in a report on Wednesday, June 25th. Evercore ISI set a $45.00 target price on Samsara in a research report on Wednesday, June 25th. Morgan Stanley decreased their target price on Samsara from $56.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. BMO Capital Markets raised their target price on Samsara from $48.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, June 2nd. Finally, Wells Fargo & Company raised their target price on Samsara from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, June 6th.

Samsara Trading Down 5.3%

NYSE IOT opened at $36.02 on Friday. The stock has a market capitalization of $20.51 billion, a price-to-earnings ratio of -163.73 and a beta of 1.62. Samsara has a twelve month low of $31.40 and a twelve month high of $61.90. The stock has a 50-day moving average of $40.50 and a 200 day moving average of $42.94.

Samsara (NYSE:IOT) last released its quarterly earnings results on Thursday, June 5th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The company had revenue of $366.88 million during the quarter, compared to analysts’ expectations of $351.44 million. Samsara had a negative return on equity of 11.14% and a negative net margin of 9.04%. Samsara’s quarterly revenue was up 30.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 EPS. Equities analysts predict that Samsara will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Marc L. Andreessen sold 399,026 shares of Samsara stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $41.33, for a total transaction of $16,491,744.58. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Sanjit Biswas sold 160,000 shares of Samsara stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $39.58, for a total value of $6,332,800.00. Following the transaction, the insider owned 78,000 shares in the company, valued at approximately $3,087,240. The trade was a 67.23% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,691,872 shares of company stock worth $111,982,470. 46.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Samsara

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Samsara by 6.5% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 71,900 shares of the company’s stock worth $2,860,000 after acquiring an additional 4,400 shares during the last quarter. AustralianSuper Pty Ltd increased its stake in Samsara by 26.7% during the second quarter. AustralianSuper Pty Ltd now owns 34,884 shares of the company’s stock worth $1,388,000 after acquiring an additional 7,351 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Samsara by 13.8% during the second quarter. Teacher Retirement System of Texas now owns 43,242 shares of the company’s stock worth $1,720,000 after acquiring an additional 5,231 shares during the last quarter. Bessemer Group Inc. increased its stake in Samsara by 33.5% during the second quarter. Bessemer Group Inc. now owns 1,442,129 shares of the company’s stock worth $57,368,000 after acquiring an additional 361,599 shares during the last quarter. Finally, Whipplewood Advisors LLC increased its stake in Samsara by 349.8% during the second quarter. Whipplewood Advisors LLC now owns 1,093 shares of the company’s stock worth $43,000 after acquiring an additional 850 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

Samsara Company Profile

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.