Samsara (NYSE:IOT) Given New $46.00 Price Target at Loop Capital

Samsara (NYSE:IOT) had its price objective raised by stock analysts at Loop Capital from $42.00 to $46.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Loop Capital’s target price would indicate a potential upside of 2.77% from the stock’s previous close.

IOT has been the topic of a number of other research reports. Truist Financial raised their price target on Samsara from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday. StockNews.com lowered Samsara from a “hold” rating to a “sell” rating in a research note on Wednesday, August 21st. TD Cowen raised their price objective on Samsara from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank of Canada raised their price objective on Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Piper Sandler lifted their price target on Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $41.36.

Samsara Trading Up 15.5 %

IOT stock traded up $6.01 during trading hours on Friday, hitting $44.76. 7,850,589 shares of the stock were exchanged, compared to its average volume of 3,652,638. The firm has a market capitalization of $24.65 billion, a P/E ratio of -89.52 and a beta of 1.49. The company has a 50-day simple moving average of $37.91 and a two-hundred day simple moving average of $35.96. Samsara has a 12 month low of $21.48 and a 12 month high of $45.43.

Samsara (NYSE:IOT) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. The firm had revenue of $300.20 million for the quarter, compared to analysts’ expectations of $289.53 million. Samsara had a negative return on equity of 21.66% and a negative net margin of 27.14%. The company’s quarterly revenue was up 36.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.11) EPS. On average, equities research analysts predict that Samsara will post -0.39 earnings per share for the current year.

Insiders Place Their Bets

In other Samsara news, insider Dominic Phillips sold 21,053 shares of Samsara stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $30.49, for a total value of $641,905.97. Following the completion of the sale, the insider now directly owns 1,137,989 shares in the company, valued at $34,697,284.61. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Dominic Phillips sold 21,053 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $30.49, for a total transaction of $641,905.97. Following the completion of the sale, the insider now owns 1,137,989 shares in the company, valued at $34,697,284.61. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Adam Eltoukhy sold 9,471 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $37.79, for a total value of $357,909.09. Following the sale, the insider now owns 465,967 shares of the company’s stock, valued at approximately $17,608,892.93. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,801,854 shares of company stock worth $64,479,185. 60.04% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Samsara

Several hedge funds and other institutional investors have recently modified their holdings of IOT. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Samsara by 31.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock valued at $53,000 after buying an additional 381 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Samsara by 9.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 969,429 shares of the company’s stock valued at $32,360,000 after buying an additional 79,773 shares during the last quarter. Montag A & Associates Inc. boosted its position in shares of Samsara by 1,200.0% during the fourth quarter. Montag A & Associates Inc. now owns 1,300 shares of the company’s stock valued at $43,000 after buying an additional 1,200 shares during the last quarter. AGF Management Ltd. purchased a new position in shares of Samsara during the fourth quarter valued at approximately $6,450,000. Finally, Jump Financial LLC purchased a new position in shares of Samsara during the fourth quarter valued at approximately $3,204,000. Institutional investors own 89.39% 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.