Evercore ISI Boosts Samsara (NYSE:IOT) Price Target to $42.00

Samsara (NYSE:IOT) had its price objective raised by Evercore ISI from $40.00 to $42.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s price target would indicate a potential upside of 8.33% from the stock’s current price.

Several other analysts have also weighed in on IOT. BMO Capital Markets raised their price objective on Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research note on Friday. Royal Bank of Canada lifted their price objective on Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Friday. Wolfe Research reissued an “outperform” rating and issued a $44.00 price target on shares of Samsara in a research note on Friday, June 28th. StockNews.com lowered Samsara from a “hold” rating to a “sell” rating in a research note on Wednesday, August 21st. Finally, Loop Capital reissued a “buy” rating and issued a $42.00 price target on shares of Samsara in a research note on Friday, June 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $39.00.

Samsara Stock Performance

IOT opened at $38.77 on Friday. The firm has a market cap of $21.35 billion, a P/E ratio of -77.54 and a beta of 1.49. Samsara has a 52-week low of $21.48 and a 52-week high of $42.49. The business’s fifty day moving average is $37.91 and its 200-day moving average is $35.96.

Samsara (NYSE:IOT) last released its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. The company had revenue of $300.20 million for the quarter, compared to analyst estimates of $289.53 million. Samsara had a negative return on equity of 21.66% and a negative net margin of 27.14%. Samsara’s quarterly revenue was up 36.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.11) EPS. On average, research analysts predict that Samsara will post -0.39 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Marc L. Andreessen sold 277,484 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $28.88, for a total transaction of $8,013,737.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Marc L. Andreessen sold 277,484 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $28.88, for a total transaction of $8,013,737.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dominic Phillips sold 21,053 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $30.49, for a total value of $641,905.97. Following the completion of the transaction, the insider now owns 1,137,989 shares of the company’s stock, valued at approximately $34,697,284.61. The disclosure for this sale can be found here. Insiders sold a total of 1,801,854 shares of company stock worth $64,479,185 over the last quarter. 60.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Resources Management Corp CT ADV grew its stake in Samsara by 104.0% in the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after purchasing an additional 490 shares during the period. Quarry LP bought a new position in Samsara in the 4th quarter valued at $37,000. National Bank of Canada FI bought a new position in Samsara in the 2nd quarter valued at $38,000. Montag A & Associates Inc. grew its stake in Samsara by 1,200.0% in the 4th quarter. Montag A & Associates Inc. now owns 1,300 shares of the company’s stock valued at $43,000 after purchasing an additional 1,200 shares during the period. Finally, Nemes Rush Group LLC purchased a new position in shares of Samsara during the 2nd quarter valued at $45,000. Institutional investors own 89.39% 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.