Samsara (NYSE:IOT) Price Target Increased to $40.00 by Analysts at Morgan Stanley

Samsara (NYSE:IOT) had its target price upped by Morgan Stanley from $38.00 to $40.00 in a report issued on Friday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other research firms also recently commented on IOT. Piper Sandler increased their price objective on shares of Samsara from $36.00 to $40.00 and gave the stock a neutral rating in a research note on Friday. Royal Bank of Canada boosted their price target on Samsara from $47.00 to $49.00 and gave the stock an outperform rating in a research report on Friday. BMO Capital Markets raised their price objective on Samsara from $40.00 to $44.00 and gave the company a market perform rating in a research report on Friday. Wolfe Research restated an outperform rating and issued a $44.00 price target on shares of Samsara in a research note on Friday, June 28th. Finally, StockNews.com cut shares of Samsara from a hold rating to a sell rating in a research report on Wednesday, August 21st. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $42.07.

Samsara Stock Performance

NYSE:IOT opened at $43.98 on Friday. The stock has a 50-day simple moving average of $38.12 and a 200 day simple moving average of $36.03. Samsara has a 52-week low of $21.48 and a 52-week high of $45.43. The company has a market cap of $24.22 billion, a PE ratio of -87.96 and a beta of 1.50.

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

Insider Buying and Selling at Samsara

In other news, CEO Sanjit Biswas sold 84,030 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $41.94, for a total transaction of $3,524,218.20. Following the completion of the sale, the chief executive officer now owns 806,269 shares of the company’s stock, valued at approximately $33,814,921.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Samsara news, Director Marc L. Andreessen sold 277,484 shares of Samsara stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $28.88, for a total value of $8,013,737.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sanjit Biswas sold 84,030 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $41.94, for a total transaction of $3,524,218.20. Following the completion of the transaction, the chief executive officer now directly owns 806,269 shares of the company’s stock, valued at approximately $33,814,921.86. The disclosure for this sale can be found here. Insiders have sold a total of 1,801,854 shares of company stock valued at $64,479,185 in the last ninety days. 60.04% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Samsara

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Cim LLC acquired a new stake in Samsara in the second quarter valued at approximately $1,049,000. Nemes Rush Group LLC bought a new stake in Samsara during the 2nd quarter worth $45,000. Creative Planning increased its holdings in Samsara by 16.1% in the 2nd quarter. Creative Planning now owns 147,457 shares of the company’s stock worth $4,969,000 after purchasing an additional 20,482 shares in the last quarter. MBB Public Markets I LLC raised its position in Samsara by 107.9% in the second quarter. MBB Public Markets I LLC now owns 13,266 shares of the company’s stock valued at $447,000 after purchasing an additional 6,885 shares during the last quarter. Finally, APG Asset Management N.V. acquired a new stake in shares of Samsara during the second quarter valued at about $745,000. 89.39% of the stock is 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.