Samsara Inc. (NYSE:IOT) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Samsara Inc. (NYSE:IOT) have earned an average recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $50.00.

Several equities research analysts recently commented on IOT shares. Wall Street Zen cut shares of Samsara from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Cowen restated a “buy” rating on shares of Samsara in a report on Friday, March 7th. Truist Financial reduced their price objective on Samsara from $50.00 to $42.00 and set a “hold” rating for the company in a research report on Friday, March 7th. BMO Capital Markets increased their price objective on Samsara from $48.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, June 2nd. Finally, Piper Sandler restated an “overweight” rating and issued a $53.00 target price (up previously from $44.00) on shares of Samsara in a research note on Wednesday, May 14th.

Samsara Price Performance

NYSE IOT opened at $40.54 on Friday. The stock’s 50-day moving average is $42.18 and its 200-day moving average is $45.08. Samsara has a one year low of $27.14 and a one year high of $61.90. The firm has a market cap of $23.08 billion, a P/E ratio of -86.26 and a beta of 1.74.

Samsara (NYSE:IOT) last announced its earnings results on Thursday, June 5th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. The firm had revenue of $366.88 million for the quarter, compared to the consensus estimate of $351.44 million. Samsara had a negative net margin of 21.80% and a negative return on equity of 19.44%. The business’s quarterly revenue was up 30.7% on a year-over-year basis. During the same period last year, the company posted $0.03 EPS. Equities analysts anticipate that Samsara will post -0.3 EPS for the current year.

Insider Transactions at Samsara

In other news, insider Dominic Phillips sold 9,059 shares of the business’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $41.23, for a total transaction of $373,502.57. Following the transaction, the insider now directly owns 887,493 shares in the company, valued at $36,591,336.39. The trade was a 1.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sanjit Biswas sold 94,020 shares of Samsara stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $42.68, for a total value of $4,012,773.60. Following the transaction, the insider now owns 114,000 shares of the company’s stock, valued at $4,865,520. The trade was a 45.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,136,917 shares of company stock worth $89,546,904 in the last 90 days. Corporate insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IOT. NewEdge Advisors LLC lifted its holdings in Samsara by 262.0% during the 4th quarter. NewEdge Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after purchasing an additional 414 shares during the last quarter. Keystone Financial Group Inc. lifted its stake in shares of Samsara by 300.0% during the 1st quarter. Keystone Financial Group Inc. now owns 600 shares of the company’s stock worth $25,000 after buying an additional 450 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Samsara during the 4th quarter worth about $31,000. IFP Advisors Inc grew its stake in Samsara by 290.3% in the 4th quarter. IFP Advisors Inc now owns 804 shares of the company’s stock valued at $35,000 after buying an additional 598 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Samsara in the 1st quarter valued at about $31,000. 96.02% of the stock is owned by institutional investors and hedge funds.

About Samsara

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.