Samsara (NYSE:IOT) Rating Lowered to Hold at Wall Street Zen

Samsara (NYSE:IOT) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

IOT has been the topic of a number of other reports. Evercore ISI set a $45.00 price objective on Samsara in a report on Wednesday, June 25th. Piper Sandler reissued an “overweight” rating and set a $47.00 price objective (down from $53.00) on shares of Samsara in a report on Thursday. Morgan Stanley decreased their price objective on Samsara from $56.00 to $50.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Wells Fargo & Company raised their price objective on Samsara from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, June 6th. Finally, BMO Capital Markets raised their price objective on Samsara from $48.00 to $54.00 and gave the company an “outperform” rating in a report on Monday, June 2nd. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Samsara has a consensus rating of “Hold” and an average price target of $50.21.

Samsara Trading Down 2.4%

Shares of IOT opened at $33.74 on Friday. The company has a market cap of $19.21 billion, a PE ratio of -153.36 and a beta of 1.62. The stock has a 50-day moving average price of $39.45 and a 200-day moving average price of $42.57. Samsara has a 12-month low of $31.40 and a 12-month high of $61.90.

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

Insider Buying and Selling

In other news, insider John Bicket sold 170,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $39.42, for a total transaction of $6,701,400.00. Following the transaction, the insider directly owned 367,642 shares of the company’s stock, valued at approximately $14,492,447.64. The trade was a 31.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Parallel Fund Iv L.P. Ah sold 399,026 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $41.33, for a total value of $16,491,744.58. The disclosure for this sale can be found here. Insiders sold 2,926,739 shares of company stock valued at $119,969,024 over the last quarter. Company insiders own 46.49% of the company’s stock.

Institutional Investors Weigh In On Samsara

Several hedge funds have recently made changes to their positions in IOT. NewEdge Advisors LLC boosted its position in shares of Samsara by 262.0% during the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after purchasing an additional 414 shares in the last quarter. Keystone Financial Group Inc. boosted its position in shares of Samsara by 300.0% during the first quarter. Keystone Financial Group Inc. now owns 600 shares of the company’s stock valued at $25,000 after purchasing an additional 450 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Samsara during the second quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Samsara during the first quarter valued at approximately $31,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Samsara during the fourth quarter valued at approximately $38,000. 96.02% of the stock is currently owned by institutional investors.

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.