Wall Street Zen upgraded shares of Samsara (NYSE:IOT – Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.
Several other equities research analysts have also weighed in on IOT. JPMorgan Chase & Co. increased their target price on shares of Samsara from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, September 4th. Craig Hallum reiterated a “buy” rating and set a $54.00 target price on shares of Samsara in a report on Friday, September 4th. Evercore reaffirmed an “outperform” rating and set a $55.00 price target on shares of Samsara in a research report on Friday, September 4th. Piper Sandler reiterated a “neutral” rating and issued a $46.00 price objective (up from $40.00) on shares of Samsara in a research report on Friday, September 4th. Finally, Royal Bank Of Canada raised their target price on shares of Samsara from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, September 4th. Fifteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.44.
Samsara Trading Down 0.2%
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, topping the consensus estimate of $0.16 by $0.04. The company had revenue of $508.44 million during the quarter, compared to analyst estimates of $483.29 million. Samsara had a return on equity of 4.13% and a net margin of 4.90%.The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.12 EPS. Samsara has set its FY 2027 guidance at 0.760-0.780 EPS and its Q3 2027 guidance at 0.180-1.090 EPS. As a group, sell-side analysts predict that Samsara will post 0.13 earnings per share for the current fiscal year.
Insider Transactions at Samsara
In other news, insider Dominic Phillips sold 11,710 shares of Samsara stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $44.25, for a total value of $518,167.50. Following the sale, the insider directly owned 836,100 shares in the company, valued at $36,997,425. This trade represents a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjit Biswas sold 35,366 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $39.43, for a total transaction of $1,394,481.38. Following the transaction, the chief executive officer owned 935,671 shares of the company’s stock, valued at $36,893,507.53. The trade was a 3.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 2,231,755 shares of company stock worth $84,241,961 in the last 90 days. 35.13% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Samsara
A number of large investors have recently modified their holdings of the business. Acumen Wealth Advisors LLC bought a new stake in Samsara during the fourth quarter worth about $28,000. Caitong International Asset Management Co. Ltd increased its position in shares of Samsara by 312.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 883 shares of the company’s stock worth $31,000 after purchasing an additional 669 shares during the last quarter. AlphaCentric Advisors LLC bought a new stake in shares of Samsara during the 4th quarter worth approximately $36,000. Markowski Investments acquired a new stake in shares of Samsara in the 2nd quarter valued at approximately $37,000. Finally, IFP Advisors Inc grew its stake in shares of Samsara by 194.4% in the third quarter. IFP Advisors Inc now owns 1,254 shares of the company’s stock valued at $47,000 after buying an additional 828 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.
About Samsara
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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