Analysts Set Samsara Inc. (NYSE:IOT) Target Price at $50.00

Shares of Samsara Inc. (NYSE:IOT - Get Free Report) have been given an average rating of "Moderate Buy" by the seventeen analysts that are presently covering the company, Marketbeat reports. Eight research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $50.00.

A number of research firms recently weighed in on IOT. Royal Bank of Canada decreased their price target on Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Cowen reaffirmed a "buy" rating on shares of Samsara in a report on Friday, March 7th. Wells Fargo & Company lifted their price objective on Samsara from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Raymond James started coverage on Samsara in a report on Wednesday, February 26th. They set a "market perform" rating for the company. Finally, Wall Street Zen cut Samsara from a "buy" rating to a "hold" rating in a report on Friday, May 30th.

Insider Transactions at Samsara

In other news, insider Sanjit Biswas sold 160,000 shares of Samsara stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $34.89, for a total value of $5,582,400.00. Following the completion of the sale, the insider now owns 108,000 shares of the company's stock, valued at $3,768,120. The trade was a 59.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marc L. Andreessen sold 399,026 shares of Samsara stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $41.33, for a total value of $16,491,744.58. The disclosure for this sale can be found here. Insiders sold a total of 2,060,283 shares of company stock valued at $86,586,131 over the last three months. 46.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Samsara

A number of hedge funds and other institutional investors have recently made changes to their positions in IOT. Jennison Associates LLC grew its position in shares of Samsara by 1,881.8% in the first quarter. Jennison Associates LLC now owns 11,763,133 shares of the company's stock valued at $450,881,000 after purchasing an additional 11,169,571 shares during the period. FMR LLC grew its position in Samsara by 24.0% during the fourth quarter. FMR LLC now owns 14,743,175 shares of the company's stock valued at $644,129,000 after acquiring an additional 2,852,575 shares during the period. Jordan Park Trust Co LLC purchased a new stake in Samsara during the fourth quarter valued at about $112,041,000. Vanguard Group Inc. grew its position in Samsara by 12.0% during the first quarter. Vanguard Group Inc. now owns 23,495,471 shares of the company's stock valued at $900,581,000 after acquiring an additional 2,516,882 shares during the period. Finally, Norges Bank purchased a new stake in Samsara during the fourth quarter valued at about $106,274,000. Hedge funds and other institutional investors own 96.02% of the company's stock.

Samsara Stock Down 0.3%

Shares of Samsara stock traded down $0.13 during trading on Friday, reaching $39.09. The company's stock had a trading volume of 8,015,316 shares, compared to its average volume of 3,812,130. Samsara has a 12-month low of $27.14 and a 12-month high of $61.90. The company has a market capitalization of $22.25 billion, a P/E ratio of -83.16 and a beta of 1.74. The business has a 50 day moving average price of $42.39 and a 200-day moving average price of $44.74.

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

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.