Samsara (NYSE:IOT) Receives New Coverage from Analysts at Bank of America

Bank of America started coverage on shares of Samsara (NYSE:IOTGet Free Report) in a research note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $37.00 price target on the stock. Bank of America‘s price objective would indicate a potential upside of 26.39% from the stock’s current price.

Several other brokerages also recently commented on IOT. BMO Capital Markets reaffirmed a “market perform” rating and set a $40.00 price objective on shares of Samsara in a research report on Tuesday, June 11th. Loop Capital started coverage on shares of Samsara in a research report on Thursday, April 18th. They set a “buy” rating and a $42.00 price objective for the company. Piper Sandler reaffirmed a “neutral” rating and set a $36.00 price objective (down previously from $41.00) on shares of Samsara in a research report on Friday, June 7th. StockNews.com raised shares of Samsara from a “sell” rating to a “hold” rating in a research report on Saturday, May 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price target on shares of Samsara in a research report on Friday, June 7th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Samsara presently has an average rating of “Moderate Buy” and a consensus target price of $35.75.

Check Out Our Latest Analysis on Samsara

Samsara Stock Performance

NYSE:IOT opened at $29.28 on Thursday. The company has a market capitalization of $16.12 billion, a PE ratio of -58.55 and a beta of 1.51. Samsara has a fifty-two week low of $21.48 and a fifty-two week high of $42.28. The company has a 50 day simple moving average of $34.95 and a two-hundred day simple moving average of $34.36.

Insider Buying and Selling at Samsara

In other Samsara news, CAO James Andrew Munk sold 1,105 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $30.01, for a total transaction of $33,161.05. Following the transaction, the chief accounting officer now directly owns 337,523 shares in the company, valued at approximately $10,129,065.23. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CAO James Andrew Munk sold 1,105 shares of Samsara stock in a transaction on Monday, June 10th. The stock was sold at an average price of $30.01, for a total transaction of $33,161.05. Following the sale, the chief accounting officer now directly owns 337,523 shares in the company, valued at approximately $10,129,065.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $39.26, for a total value of $3,768,960.00. Following the sale, the chief executive officer now owns 1,307,921 shares in the company, valued at $51,348,978.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,727,122 shares of company stock worth $59,873,787. Corporate insiders own 60.04% of the company’s stock.

Institutional Investors Weigh In On Samsara

Hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. increased its holdings in Samsara by 9.4% in the 1st quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock worth $123,000 after acquiring an additional 280 shares during the last quarter. Janney Capital Management LLC increased its holdings in Samsara by 3.1% in the 4th quarter. Janney Capital Management LLC now owns 10,348 shares of the company’s stock worth $345,000 after acquiring an additional 311 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Samsara by 31.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock worth $53,000 after acquiring an additional 381 shares during the last quarter. Cetera Advisors LLC increased its holdings in Samsara by 6.8% in the 1st quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock worth $295,000 after acquiring an additional 497 shares during the last quarter. Finally, Ulland Investment Advisors LLC increased its holdings in Samsara by 33.6% in the 1st quarter. Ulland Investment Advisors LLC now owns 1,990 shares of the company’s stock worth $75,000 after acquiring an additional 500 shares during the last quarter. 89.39% of the stock is currently owned by institutional investors.

Samsara Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Samsara (NYSE:IOT)

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