Samsara (NYSE:IOT) Given New $25.00 Price Target at Wells Fargo & Company

Posted by Defense World Staff on Jun 3rd, 2023

Samsara (NYSE:IOT – Get Rating) had its target price lifted by Wells Fargo & Company from $23.00 to $25.00 in a research note released on Friday, The Fly reports.

Several other research firms have also recently weighed in on IOT. Morgan Stanley cut Samsara from an overweight rating to an equal weight rating and lifted their target price for the company from $18.00 to $19.00 in a research note on Thursday, March 23rd. StockNews.com initiated coverage on Samsara in a research note on Thursday, May 18th. They issued a sell rating for the company. JPMorgan Chase & Co. boosted their price target on Samsara from $14.00 to $17.00 and gave the company a neutral rating in a research note on Friday, March 3rd. Piper Sandler initiated coverage on Samsara in a research note on Wednesday, March 15th. They issued a neutral rating and a $21.00 price target for the company. Finally, Royal Bank of Canada boosted their price target on Samsara from $21.00 to $24.00 in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $23.30.

Samsara Trading Up 27.9 %

Shares of Samsara stock opened at $24.31 on Friday. The company’s 50-day moving average price is $19.54 and its two-hundred day moving average price is $15.92. The stock has a market cap of $12.75 billion, a PE ratio of -50.64 and a beta of 1.01. Samsara has a 52 week low of $8.42 and a 52 week high of $25.06.

Samsara (NYSE:IOT – Get Rating) last issued its quarterly earnings results on Thursday, March 2nd. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.11. Samsara had a negative return on equity of 21.20% and a negative net margin of 37.92%. The firm had revenue of $186.58 million for the quarter, compared to analysts’ expectations of $172.77 million. On average, equities analysts predict that Samsara will post -0.42 EPS for the current fiscal year.

Insider Buying and Selling at Samsara

In other Samsara news, insider Adam Eltoukhy sold 3,334 shares of the company’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $20.01, for a total value of $66,713.34. Following the sale, the insider now directly owns 908,068 shares in the company, valued at $18,170,440.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider John Bicket sold 90,295 shares of the stock in a transaction on Monday, March 13th. The stock was sold at an average price of $19.43, for a total transaction of $1,754,431.85. Following the sale, the insider now owns 27,807 shares in the company, valued at $540,290.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adam Eltoukhy sold 3,334 shares of Samsara stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $20.01, for a total value of $66,713.34. Following the completion of the sale, the insider now owns 908,068 shares of the company’s stock, valued at $18,170,440.68. The disclosure for this sale can be found here. Insiders have sold 5,314,254 shares of company stock worth $102,000,530 over the last three months. Company insiders own 66.14% of the company’s stock.

Institutional Trading of Samsara

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. acquired a new stake in Samsara in the first quarter worth about $370,994,000. General Atlantic L.P. bought a new position in Samsara during the first quarter worth about $181,957,000. Vanguard Group Inc. boosted its holdings in Samsara by 84.4% during the third quarter. Vanguard Group Inc. now owns 7,636,709 shares of the company’s stock worth $92,175,000 after buying an additional 3,495,366 shares during the last quarter. Morgan Stanley boosted its holdings in Samsara by 4.6% during the fourth quarter. Morgan Stanley now owns 7,326,909 shares of the company’s stock worth $91,073,000 after buying an additional 320,468 shares during the last quarter. Finally, PointState Capital LP boosted its holdings in Samsara by 18.1% during the third quarter. PointState Capital LP now owns 5,279,098 shares of the company’s stock worth $63,719,000 after buying an additional 809,646 shares during the last quarter. 43.05% of the stock is currently 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.