Samsara Inc. (NYSE:IOT) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Samsara Inc. (NYSE:IOT – Get Rating) have been assigned a consensus recommendation of “Hold” from the twelve ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $21.82.

IOT has been the subject of a number of recent analyst reports. BMO Capital Markets lifted their price target on Samsara from $17.00 to $19.00 and gave the stock a “market perform” rating in a report on Friday, March 3rd. The Goldman Sachs Group raised Samsara from a “neutral” rating to a “buy” rating and upped their price target for the company from $16.00 to $27.00 in a report on Friday, March 3rd. Royal Bank of Canada increased their price target on shares of Samsara from $15.00 to $19.00 and gave the company an “outperform” rating in a research note on Monday, February 27th. Truist Financial assumed coverage on shares of Samsara in a research report on Friday, April 21st. They set a “hold” rating and a $20.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of Samsara from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, March 3rd.

Insider Activity

In related news, CEO Sanjit Biswas sold 53,856 shares of the firm’s stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $16.53, for a total transaction of $890,239.68. Following the transaction, the chief executive officer now owns 91,438 shares of the company’s stock, valued at $1,511,470.14. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Samsara news, insider John Bicket sold 32,164 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $19.87, for a total transaction of $639,098.68. Following the transaction, the insider now owns 27,807 shares in the company, valued at approximately $552,525.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjit Biswas sold 53,856 shares of the company’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $16.53, for a total value of $890,239.68. Following the transaction, the chief executive officer now directly owns 91,438 shares in the company, valued at approximately $1,511,470.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,137,917 shares of company stock valued at $98,155,723. Insiders own 66.14% of the company’s stock.

Institutional Investors Weigh In On Samsara

Institutional investors have recently made changes to their positions in the stock. State of Wyoming acquired a new stake in shares of Samsara in the fourth quarter valued at about $27,000. Macquarie Group Ltd. increased its holdings in Samsara by 37.3% in the fourth quarter. Macquarie Group Ltd. now owns 2,391 shares of the company’s stock valued at $30,000 after buying an additional 649 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Samsara during the 1st quarter valued at approximately $32,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Samsara during the 2nd quarter worth approximately $33,000. Finally, IFP Advisors Inc acquired a new stake in shares of Samsara in the 3rd quarter worth approximately $44,000. 43.05% of the stock is currently owned by hedge funds and other institutional investors.

Samsara Stock Performance

IOT stock opened at $19.22 on Thursday. Samsara has a fifty-two week low of $8.42 and a fifty-two week high of $22.59. The company’s 50 day moving average price is $19.37 and its 200 day moving average price is $15.46. The firm has a market capitalization of $10.08 billion, a price-to-earnings ratio of -40.04 and a beta of 1.00.

Samsara (NYSE:IOT – Get Rating) last announced its quarterly earnings data on Thursday, March 2nd. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.11. The company had revenue of $186.58 million for the quarter, compared to the consensus estimate of $172.77 million. Samsara had a negative net margin of 37.92% and a negative return on equity of 21.20%. Equities analysts forecast that Samsara will post -0.42 EPS for the current fiscal year.

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.