Samsara (NYSE:IOT) Coverage Initiated at Piper Sandler

Stock analysts at Piper Sandler started coverage on shares of Samsara (NYSE:IOT – Get Rating) in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage set a “neutral” rating and a $21.00 price target on the stock. Piper Sandler’s price target suggests a potential upside of 7.86% from the stock’s current price.

Other analysts have also recently issued reports about the company. Morgan Stanley increased their target price on Samsara from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Friday, March 3rd. StockNews.com raised Samsara to a “sell” rating in a research report on Thursday, February 9th. Evercore ISI decreased their price target on shares of Samsara to $15.00 in a research note on Friday, December 2nd. Royal Bank of Canada increased their target price on shares of Samsara from $15.00 to $19.00 and gave the stock an “outperform” rating in a report on Monday, February 27th. Finally, The Goldman Sachs Group raised shares of Samsara from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $16.00 to $27.00 in a research report on Friday, March 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.90.

Samsara Stock Performance

NYSE IOT opened at $19.47 on Wednesday. The stock has a market capitalization of $10.10 billion, a P/E ratio of -40.56 and a beta of 0.92. Samsara has a 52 week low of $8.42 and a 52 week high of $21.49. The stock has a fifty day moving average of $15.41 and a 200-day moving average of $13.03.

Samsara (NYSE:IOT – Get Rating) last issued its quarterly earnings results on Thursday, March 2nd. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.11. The company had revenue of $186.58 million during the quarter, compared to analysts’ expectations of $172.77 million. Samsara had a negative net margin of 37.92% and a negative return on equity of 21.12%. Equities research analysts forecast that Samsara will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Sanjit Biswas sold 23,866 shares of the business’s stock in a transaction on Tuesday, January 10th. The stock was sold at an average price of $11.45, for a total transaction of $273,265.70. Following the completion of the transaction, the chief executive officer now owns 91,438 shares of the company’s stock, valued at approximately $1,046,965.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Sanjit Biswas sold 23,866 shares of the company’s stock in a transaction on Tuesday, January 10th. The shares were sold at an average price of $11.45, for a total transaction of $273,265.70. Following the completion of the transaction, the chief executive officer now directly owns 91,438 shares in the company, valued at $1,046,965.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Adam Eltoukhy sold 10,000 shares of the firm’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $20.00, for a total value of $200,000.00. Following the sale, the insider now directly owns 911,402 shares in the company, valued at approximately $18,228,040. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,942,786 shares of company stock worth $87,282,325.

Institutional Trading of Samsara

A number of institutional investors and hedge funds have recently bought and sold shares of IOT. Bank of New York Mellon Corp acquired a new stake in shares of Samsara during the first quarter worth $558,000. PNC Financial Services Group Inc. raised its holdings in shares of Samsara by 141.6% during the first quarter. PNC Financial Services Group Inc. now owns 20,170 shares of the company’s stock valued at $322,000 after purchasing an additional 11,820 shares during the period. BlackRock Inc. grew its stake in shares of Samsara by 17.3% in the 1st quarter. BlackRock Inc. now owns 3,227,576 shares of the company’s stock valued at $51,704,000 after buying an additional 477,013 shares during the period. Vanguard Group Inc. boosted its holdings in Samsara by 52.8% in the first quarter. Vanguard Group Inc. now owns 3,033,132 shares of the company’s stock worth $48,591,000 after acquiring an additional 1,048,694 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of Samsara during the first quarter worth approximately $3,109,000. 43.05% of the stock is currently owned by institutional investors and hedge funds.

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.