Samsara (NYSE:IOT) Downgraded by Zacks Investment Research

Samsara (NYSE:IOTGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

IOT has been the topic of a number of other research reports. StockNews.com started coverage on shares of Samsara in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. Cowen dropped their price target on shares of Samsara from $31.00 to $27.00 in a research report on Thursday, March 3rd. The Goldman Sachs Group dropped their price target on shares of Samsara from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, April 14th. Royal Bank of Canada dropped their price target on shares of Samsara from $28.00 to $18.00 in a research report on Tuesday, May 31st. Finally, Wells Fargo & Company dropped their price target on shares of Samsara to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $24.50.

IOT traded up $1.07 during midday trading on Tuesday, hitting $11.94. 2,705,253 shares of the company’s stock traded hands, compared to its average volume of 1,599,995. The company’s fifty day moving average price is $12.45. Samsara has a one year low of $8.72 and a one year high of $31.41.

Samsara (NYSE:IOTGet Rating) last issued its quarterly earnings data on Thursday, June 2nd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. As a group, research analysts expect that Samsara will post -0.24 EPS for the current year.

In other Samsara news, insider Kiren Sekar sold 60,534 shares of Samsara stock in a transaction on Tuesday, March 15th. The shares were sold at an average price of $13.34, for a total transaction of $807,523.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Several large investors have recently modified their holdings of IOT. Bessemer Group Inc. acquired a new stake in shares of Samsara in the 4th quarter valued at $28,000. Bank of America Corp DE acquired a new stake in shares of Samsara in the 4th quarter valued at $38,000. Advisor Group Holdings Inc. acquired a new stake in shares of Samsara in the 4th quarter valued at $93,000. Royal Bank of Canada boosted its stake in shares of Samsara by 61.6% in the 1st quarter. Royal Bank of Canada now owns 6,127 shares of the company’s stock valued at $98,000 after purchasing an additional 2,335 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Samsara in the 4th quarter valued at $195,000. Institutional investors own 45.47% of the company’s stock.

About Samsara (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.

Featured Stories

Get a free copy of the Zacks research report on Samsara (IOT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Samsara (NYSE:IOT)

Want More Great Investing Ideas?

Receive News & Ratings for Samsara Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Samsara and related companies with MarketBeat.com's FREE daily email newsletter.