Samsara Inc. (NYSE:IOT) Receives Average Rating of "Moderate Buy" from Brokerages

Samsara Inc. (NYSE:IOT - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the seventeen ratings firms that are presently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $50.00.

A number of brokerages have commented on IOT. Cowen reiterated a "buy" rating on shares of Samsara in a research note on Friday, March 7th. Wall Street Zen cut Samsara from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Wells Fargo & Company lifted their target price on Samsara from $48.00 to $50.00 and gave the stock an "overweight" rating in a research note on Friday, June 6th. Craig Hallum restated a "hold" rating on shares of Samsara in a research note on Friday, March 7th. Finally, BMO Capital Markets lifted their price objective on shares of Samsara from $48.00 to $54.00 and gave the stock an "outperform" rating in a research report on Monday, June 2nd.

Samsara Stock Performance

NYSE:IOT traded down $1.55 during mid-day trading on Friday, hitting $39.14. The company had a trading volume of 5,492,723 shares, compared to its average volume of 3,801,238. Samsara has a fifty-two week low of $27.14 and a fifty-two week high of $61.90. The business's fifty day moving average is $42.18 and its two-hundred day moving average is $45.08. The firm has a market cap of $22.28 billion, a P/E ratio of -83.28 and a beta of 1.74.

Samsara (NYSE:IOT - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.05. Samsara had a negative net margin of 21.80% and a negative return on equity of 19.44%. The business had revenue of $366.88 million during the quarter, compared to analysts' expectations of $351.44 million. During the same quarter in the prior year, the company earned $0.03 EPS. The firm's quarterly revenue was up 30.7% on a year-over-year basis. Equities analysts forecast that Samsara will post -0.3 earnings per share for the current year.

Insider Activity

In other Samsara news, insider Dominic Phillips sold 9,059 shares of the company's stock in a transaction that occurred on 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 owns 887,493 shares in the company, valued at approximately $36,591,336.39. This represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sanjit Biswas sold 94,020 shares of the firm's 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 completion of the transaction, the insider now owns 114,000 shares of the company's stock, valued at approximately $4,865,520. The trade was a 45.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,136,917 shares of company stock valued at $89,546,904. Corporate insiders own 60.04% of the company's stock.

Hedge Funds Weigh In On Samsara

Hedge funds have recently bought and sold shares of the business. Rhumbline Advisers lifted its position in shares of Samsara by 26.0% in the first quarter. Rhumbline Advisers now owns 46,249 shares of the company's stock valued at $1,773,000 after acquiring an additional 9,552 shares in the last quarter. IFM Investors Pty Ltd increased its position in shares of Samsara by 47.6% during the first quarter. IFM Investors Pty Ltd now owns 49,509 shares of the company's stock worth $1,898,000 after purchasing an additional 15,958 shares in the last quarter. SCS Capital Management LLC purchased a new position in Samsara in the 1st quarter valued at $571,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Samsara by 58.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,823,484 shares of the company's stock valued at $108,224,000 after purchasing an additional 1,047,068 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of Samsara by 3.4% during the first quarter. Empowered Funds LLC now owns 10,168 shares of the company's stock worth $390,000 after buying an additional 335 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company's stock.

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.