Samsara (NYSE:IOT) PT Raised to $18.00

Posted by on Mar 5th, 2023

Samsara (NYSE:IOT – Get Rating) had its price objective lifted by stock analysts at Morgan Stanley from $17.00 to $18.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target would suggest a potential downside of 7.60% from the stock’s current price.

Several other brokerages have also recently weighed in on IOT. Evercore ISI lowered their target price on Samsara to $15.00 in a report on Friday, December 2nd. Wells Fargo & Company upped their price objective on Samsara from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday. Royal Bank of Canada upped their price objective on Samsara from $15.00 to $19.00 and gave the stock an “outperform” rating in a research note on Monday, February 27th. StockNews.com upgraded Samsara to a “sell” rating in a research note on Thursday, February 9th. Finally, The Goldman Sachs Group upgraded Samsara from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $16.00 to $27.00 in a research note on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.00.

Samsara Trading Up 15.4 %

Shares of IOT stock opened at $19.48 on Friday. Samsara has a twelve month low of $8.42 and a twelve month high of $20.73. The stock has a market capitalization of $10.11 billion, a price-to-earnings ratio of -40.58 and a beta of 0.92. The stock has a fifty day simple moving average of $13.96 and a two-hundred day simple moving average of $12.76.

Samsara (NYSE:IOT – Get Rating) last issued its earnings results on Thursday, December 1st. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.03. Samsara had a negative return on equity of 21.12% and a negative net margin of 37.92%. The business had revenue of $169.80 million during the quarter, compared to analysts’ expectations of $155.64 million. Research analysts predict that Samsara will post -0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Adam Eltoukhy sold 31,000 shares of Samsara stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $13.05, for a total transaction of $404,550.00. Following the transaction, the insider now owns 593,213 shares in the company, valued at $7,741,429.65. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Samsara news, insider Adam Eltoukhy sold 31,000 shares of the firm’s stock in a transaction on Friday, December 9th. The stock was sold at an average price of $13.05, for a total transaction of $404,550.00. Following the completion of the sale, the insider now owns 593,213 shares of the company’s stock, valued at $7,741,429.65. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sanjit Biswas sold 53,856 shares of Samsara stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $16.53, for a total value of $890,239.68. Following the completion of the sale, the chief executive officer now directly owns 91,438 shares of the company’s stock, valued at $1,511,470.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,431,747 shares of company stock worth $19,265,045. 81.12% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Macquarie Group Ltd. lifted its holdings in Samsara by 37.3% during the 4th quarter. Macquarie Group Ltd. now owns 2,391 shares of the company’s stock worth $30,000 after buying an additional 649 shares during the last quarter. Arizona State Retirement System lifted its holdings in Samsara by 3.8% during the 4th quarter. Arizona State Retirement System now owns 20,436 shares of the company’s stock worth $254,000 after buying an additional 754 shares during the last quarter. Avitas Wealth Management LLC lifted its holdings in Samsara by 7.4% during the 3rd quarter. Avitas Wealth Management LLC now owns 15,104 shares of the company’s stock worth $182,000 after buying an additional 1,038 shares during the last quarter. IFP Advisors Inc purchased a new stake in Samsara during the 3rd quarter worth about $44,000. Finally, Citigroup Inc. lifted its holdings in Samsara by 44.5% during the 4th quarter. Citigroup Inc. now owns 5,870 shares of the company’s stock worth $73,000 after buying an additional 1,807 shares during the last quarter. 43.05% of the stock is owned by institutional investors and hedge funds.

Samsara Company Profile

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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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