Samsara (NYSE:IOT) Upgraded by Wall Street Zen to Buy Rating

Key Points

• Wall Street Zen upgraded Samsara to “Buy” from “Hold.” The broader analyst consensus is “Moderate Buy,” with 15 Buy, five Hold and one Sell rating, and an average price target of $52.44.
• Samsara exceeded quarterly expectations, reporting $0.20 EPS versus the $0.16 consensus and revenue of $508.44 million versus $483.29 million expected. Revenue increased 29.9% year over year.
• Insiders sold 2.23 million shares worth approximately $84.2 million over the past 90 days, while institutional investors remained heavily involved, owning 96.02% of the company.

Samsara (NYSE:IOT - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other research analysts also recently weighed in on IOT. Craig Hallum reiterated a "buy" rating and issued a $54.00 price objective on shares of Samsara in a research report on Friday, September 4th. Truist Financial raised their target price on Samsara from $38.00 to $48.00 and gave the company a "hold" rating in a research report on Friday, September 4th. Morgan Stanley lifted their price target on Samsara from $43.00 to $49.00 and gave the company an "equal weight" rating in a research note on Friday, September 4th. Jefferies Financial Group raised Samsara to a "buy" rating in a report on Thursday, June 11th. Finally, Wells Fargo & Company increased their price target on Samsara from $50.00 to $58.00 and gave the stock an "overweight" rating in a research report on Friday, September 4th. Fifteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $52.44.

Samsara Price Performance

NYSE:IOT opened at $38.38 on Friday. The firm has a market cap of $22.37 billion, a price-to-earnings ratio of 239.89, a price-to-earnings-growth ratio of 9.46 and a beta of 1.35. The company has a 50 day moving average price of $38.27 and a 200-day moving average price of $33.65. Samsara has a 1-year low of $23.38 and a 1-year high of $47.47.

Samsara (NYSE:IOT - Get Free Report) last posted its earnings results on Thursday, September 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.04. Samsara had a net margin of 4.90% and a return on equity of 4.13%. The firm had revenue of $508.44 million during the quarter, compared to analysts' expectations of $483.29 million. During the same period in the previous year, the business posted $0.12 EPS. The business's revenue was up 29.9% compared to the same quarter last year. Samsara has set its FY 2027 guidance at 0.760-0.780 EPS and its Q3 2027 guidance at 0.180-1.090 EPS. On average, sell-side analysts anticipate that Samsara will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Samsara

In other news, CEO Sanjit Biswas sold 244,805 shares of Samsara stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $36.77, for a total value of $9,001,479.85. Following the sale, the chief executive officer owned 94,000 shares in the company, valued at $3,456,380. This trade represents a 72.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Bicket sold 245,925 shares of the business's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $36.77, for a total transaction of $9,042,662.25. Following the sale, the insider directly owned 94,000 shares of the company's stock, valued at $3,456,380. This represents a 72.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 2,231,755 shares of company stock worth $84,241,961. Insiders own 35.13% of the company's stock.

Hedge Funds Weigh In On Samsara

Several hedge funds and other institutional investors have recently made changes to their positions in IOT. California State Teachers Retirement System boosted its stake in shares of Samsara by 3,119.1% in the second quarter. California State Teachers Retirement System now owns 15,704,422 shares of the company's stock worth $484,256,000 after acquiring an additional 15,216,568 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Samsara by 58.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 11,878,112 shares of the company's stock valued at $421,079,000 after purchasing an additional 4,401,082 shares in the last quarter. Brown Advisory Inc. lifted its holdings in Samsara by 42.1% in the 4th quarter. Brown Advisory Inc. now owns 11,213,972 shares of the company's stock valued at $397,536,000 after purchasing an additional 3,322,023 shares in the last quarter. Wellington Management Group LLP boosted its stake in Samsara by 9.6% during the 2nd quarter. Wellington Management Group LLP now owns 9,327,606 shares of the company's stock worth $302,494,000 after purchasing an additional 813,922 shares during the last quarter. Finally, State Street Corp boosted its stake in Samsara by 15.8% during the 4th quarter. State Street Corp now owns 6,920,219 shares of the company's stock worth $245,322,000 after purchasing an additional 944,485 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company's stock.

Samsara Company Profile

Samsara, Inc is a technology company that provides a cloud-based Connected Operations Platform for organizations that rely on physical operations. Its platform helps businesses monitor vehicles, equipment, worksites and employees, while using connected devices, software and data analytics to improve safety, efficiency and productivity.

The company's products and services include vehicle telematics, GPS tracking, electronic logging and fleet management tools; video-based safety and security systems; equipment and asset monitoring; workforce and workflow management applications; and tools for dispatching, routing, maintenance and site visibility.

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