Samsara’s (IOT) Market Perform Rating Reiterated at BMO Capital Markets

Samsara (NYSE:IOTGet Free Report)‘s stock had its “market perform” rating restated by analysts at BMO Capital Markets in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $40.00 target price on the stock. BMO Capital Markets’ price target would suggest a potential upside of 29.24% from the company’s current price.

A number of other equities research analysts have also issued reports on IOT. Royal Bank of Canada reaffirmed an “outperform” rating and set a $47.00 target price on shares of Samsara in a report on Friday. Loop Capital initiated coverage on shares of Samsara in a report on Thursday, April 18th. They set a “buy” rating and a $42.00 target price for the company. Evercore ISI dropped their target price on shares of Samsara from $41.00 to $40.00 and set an “in-line” rating for the company in a report on Friday. Piper Sandler reaffirmed a “neutral” rating and set a $36.00 target price (down previously from $41.00) on shares of Samsara in a report on Friday. Finally, StockNews.com raised shares of Samsara from a “sell” rating to a “hold” rating in a report on Saturday, May 25th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Samsara currently has a consensus rating of “Hold” and an average price target of $35.64.

Get Our Latest Stock Analysis on Samsara

Samsara Stock Performance

NYSE:IOT opened at $30.95 on Tuesday. The company has a fifty day moving average of $35.74 and a two-hundred day moving average of $34.45. The stock has a market capitalization of $17.04 billion, a PE ratio of -61.90 and a beta of 1.52. Samsara has a fifty-two week low of $21.48 and a fifty-two week high of $42.28.

Insiders Place Their Bets

In other Samsara news, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $30.73, for a total transaction of $2,950,080.00. Following the completion of the transaction, the chief executive officer now owns 1,115,921 shares of the company’s stock, valued at $34,292,252.33. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO James Andrew Munk sold 9,714 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $35.46, for a total transaction of $344,458.44. Following the sale, the chief accounting officer now owns 307,185 shares of the company’s stock, valued at $10,892,780.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $30.73, for a total transaction of $2,950,080.00. Following the completion of the transaction, the chief executive officer now owns 1,115,921 shares of the company’s stock, valued at approximately $34,292,252.33. The disclosure for this sale can be found here. Insiders sold a total of 1,604,483 shares of company stock valued at $58,215,522 over the last 90 days. 60.04% of the stock is owned by company insiders.

Institutional Trading of Samsara

Several institutional investors have recently modified their holdings of IOT. Fred Alger Management LLC purchased a new stake in Samsara in the 3rd quarter valued at $28,000. Quarry LP acquired a new position in Samsara in the 4th quarter valued at $37,000. Montag A & Associates Inc. increased its stake in Samsara by 1,200.0% in the 4th quarter. Montag A & Associates Inc. now owns 1,300 shares of the company’s stock valued at $43,000 after buying an additional 1,200 shares during the period. Tradition Wealth Management LLC acquired a new position in Samsara in the 4th quarter valued at $46,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Samsara by 31.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock valued at $53,000 after buying an additional 381 shares during the period. Hedge funds and other institutional investors own 89.39% of the company’s stock.

Samsara Company Profile

(Get Free Report)

Samsara Inc provides solutions that connects 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.

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Analyst Recommendations for Samsara (NYSE:IOT)

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