Zacks Investment Research Upgrades Samsara (NYSE:IOT) to “Buy”

Samsara (NYSE:IOTGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, Zacks.com reports. The firm presently has a $11.00 price objective on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 2.23% from the company’s current price.

IOT has been the subject of several other research reports. Cowen decreased their target price on Samsara from $31.00 to $27.00 in a research report on Thursday, March 3rd. The Goldman Sachs Group reduced their price target on Samsara from $30.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, April 14th. StockNews.com began coverage on Samsara in a report on Thursday, March 31st. They issued a “sell” rating for the company. Morgan Stanley reduced their price target on Samsara from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday, March 3rd. Finally, Wells Fargo & Company reduced their price target on Samsara to $20.00 and set an “overweight” rating for the company in a report on Wednesday, May 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Samsara has an average rating of “Buy” and an average target price of $26.11.

Shares of NYSE IOT traded up $1.05 on Wednesday, hitting $10.76. The company had a trading volume of 1,539,874 shares, compared to its average volume of 1,547,795. Samsara has a 12-month low of $8.72 and a 12-month high of $31.41. The company has a 50 day moving average price of $13.53.

Samsara (NYSE:IOTGet Rating) last issued its earnings results on Wednesday, March 2nd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The company had revenue of $125.75 million during the quarter, compared to analysts’ expectations of $116.15 million. Sell-side analysts expect that Samsara will post -0.24 earnings per share for the current fiscal year.

In other Samsara news, insider Kiren Sekar sold 60,534 shares of the company’s stock in a transaction that occurred on Tuesday, March 15th. The stock was sold at an average price of $13.34, for a total transaction of $807,523.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 81.12% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. TimesSquare Capital Management LLC acquired a new stake in shares of Samsara during the 4th quarter worth approximately $24,250,000. Glynn Capital Management LLC acquired a new stake in Samsara in the 4th quarter valued at approximately $2,811,000. Rokos Capital Management LLP acquired a new stake in Samsara in the 4th quarter valued at approximately $404,000. Bessemer Group Inc. acquired a new stake in Samsara in the 4th quarter valued at approximately $28,000. Finally, Transcend Wealth Collective LLC acquired a new stake in Samsara in the 4th quarter valued at approximately $1,014,000. Institutional investors and hedge funds own 45.47% of the company’s stock.

Samsara Company Profile (Get Rating)

Samsara Inc provides solutions that connect 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; and applications for video-based safety, vehicle telematics, apps and driver workflows, equipment monitoring, and site visibility.

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