StockNews.com Downgrades Samsara (NYSE:IOT) to Sell

Samsara (NYSE:IOT) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

A number of other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Wolfe Research reaffirmed an “outperform” rating and set a $44.00 target price on shares of Samsara in a report on Friday, June 28th. Royal Bank of Canada lifted their price target on shares of Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. Piper Sandler upped their price objective on Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Finally, BMO Capital Markets raised their target price on shares of Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $42.07.

Samsara Stock Up 0.2 %

Shares of NYSE:IOT opened at $45.73 on Wednesday. The company has a 50-day moving average price of $42.38 and a two-hundred day moving average price of $37.69. Samsara has a twelve month low of $21.48 and a twelve month high of $50.07. The firm has a market capitalization of $25.19 billion, a PE ratio of -91.46 and a beta of 1.52.

Samsara (NYSE:IOT) last announced 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. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The company had revenue of $300.20 million during the quarter, compared to analysts’ expectations of $289.53 million. During the same quarter in the prior year, the company earned ($0.11) EPS. The firm’s revenue was up 36.9% on a year-over-year basis. Analysts anticipate that Samsara will post -0.34 earnings per share for the current fiscal year.

Insider Transactions at Samsara

In other news, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $34.76, for a total value of $3,336,960.00. Following the sale, the chief executive officer now owns 1,370,299 shares in the company, valued at $47,631,593.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Dominic Phillips sold 20,747 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $46.79, for a total value of $970,752.13. Following the completion of the transaction, the insider now directly owns 882,664 shares of the company’s stock, valued at $41,299,848.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjit Biswas sold 96,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $34.76, for a total transaction of $3,336,960.00. Following the sale, the chief executive officer now owns 1,370,299 shares of the company’s stock, valued at approximately $47,631,593.24. The disclosure for this sale can be found here. Insiders have sold 2,036,034 shares of company stock worth $85,086,127 over the last quarter. 60.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Samsara

A number of institutional investors have recently modified their holdings of IOT. Resources Management Corp CT ADV grew its holdings in Samsara by 104.0% during the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after acquiring an additional 490 shares during the period. Quarry LP acquired a new position in shares of Samsara during the 4th quarter worth $37,000. National Bank of Canada FI purchased a new position in shares of Samsara in the 2nd quarter valued at about $38,000. Nemes Rush Group LLC acquired a new stake in shares of Samsara in the 2nd quarter worth approximately $45,000. Finally, UniSuper Management Pty Ltd purchased a new stake in shares of Samsara in the first quarter valued at $94,000. 89.39% of the stock is owned by institutional investors and hedge funds.

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.