Samsara (NYSE:IOT) PT Lowered to $17.00 at Morgan Stanley

Samsara (NYSE:IOTGet Rating) had its price target cut by Morgan Stanley from $18.00 to $17.00 in a research report released on Tuesday, MarketBeat reports. They currently have an overweight rating on the stock.

Several other brokerages have also commented on IOT. Evercore ISI boosted their price objective on Samsara to $17.00 in a report on Tuesday, September 6th. StockNews.com initiated coverage on Samsara in a research note on Wednesday, October 12th. They issued a sell rating for the company. Wells Fargo & Company upped their target price on Samsara from $20.00 to $22.00 and gave the stock an overweight rating in a research note on Thursday, September 1st. Moffett Nathanson initiated coverage on Samsara in a research note on Thursday, September 22nd. They issued a buy rating and a $40.00 target price for the company. Finally, Royal Bank of Canada upped their target price on Samsara from $18.00 to $21.00 and gave the stock an outperform rating in a research note on Thursday, August 18th. One research 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 Moderate Buy and a consensus target price of $24.90.

Samsara Price Performance

Shares of NYSE IOT opened at $9.47 on Tuesday. Samsara has a 12 month low of $8.42 and a 12 month high of $31.41. The business has a 50-day moving average of $11.47 and a 200-day moving average of $12.50.

Samsara (NYSE:IOTGet Rating) last issued its quarterly earnings data on Wednesday, August 31st. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.11. The business had revenue of $153.52 million for the quarter, compared to analysts’ expectations of $143.70 million. Analysts predict that Samsara will post -0.56 earnings per share for the current fiscal year.

Insider Activity at Samsara

In related news, insider Benjamin Calderon sold 98,048 shares of the company’s stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $10.30, for a total transaction of $1,009,894.40. Following the completion of the transaction, the insider now owns 115,583 shares in the company, valued at $1,190,504.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Benjamin Calderon sold 98,048 shares of the company’s stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $10.30, for a total transaction of $1,009,894.40. Following the completion of the transaction, the insider now owns 115,583 shares in the company, valued at $1,190,504.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jonathan Chadwick sold 6,103 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $12.59, for a total value of $76,836.77. Following the transaction, the director now owns 96,162 shares of the company’s stock, valued at approximately $1,210,679.58. The disclosure for this sale can be found here. Insiders sold a total of 390,017 shares of company stock worth $4,562,386 over the last quarter.

Hedge Funds Weigh In On Samsara

Hedge funds and other institutional investors have recently made changes to their positions in the business. Transcend Capital Advisors LLC raised its holdings in Samsara by 157.1% in the second quarter. Transcend Capital Advisors LLC now owns 324,325 shares of the company’s stock worth $3,623,000 after purchasing an additional 198,179 shares in the last quarter. Canal Insurance CO raised its holdings in Samsara by 25.0% in the second quarter. Canal Insurance CO now owns 100,000 shares of the company’s stock worth $1,117,000 after purchasing an additional 20,000 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in Samsara in the second quarter worth $261,000. Sands Capital Management LLC raised its holdings in Samsara by 27.8% in the first quarter. Sands Capital Management LLC now owns 1,739,089 shares of the company’s stock worth $27,860,000 after purchasing an additional 377,864 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in Samsara in the second quarter worth $1,239,000. Institutional investors own 23.68% of the company’s stock.

About Samsara

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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.

Further Reading

Analyst Recommendations for Samsara (NYSE:IOT)

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