Samsara (NYSE:IOT) Coverage Initiated at BNP Paribas

by · The Cerbat Gem

Investment analysts at BNP Paribas assumed coverage on shares of Samsara (NYSE:IOT – Get Free Report) in a note issued to investors on Tuesday, MarketBeat.com reports. The brokerage set a “neutral” rating and a $46.00 price target on the stock. BNP Paribas’ target price would indicate a potential downside of 4.07% from the company’s previous close.

Several other brokerages have also recently issued reports on IOT. Bank of America raised their target price on shares of Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, September 6th. TD Cowen lifted their price objective on Samsara from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, September 6th. StockNews.com downgraded Samsara from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company lifted their price target on Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Evercore ISI boosted their price target on Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.33.

View Our Latest Report on Samsara

Samsara Stock Performance

Shares of IOT opened at $47.95 on Tuesday. The stock has a 50-day moving average of $43.20 and a two-hundred day moving average of $38.00. The stock has a market cap of $26.41 billion, a P/E ratio of -95.90 and a beta of 1.52. Samsara has a one year low of $21.48 and a one year high of $50.07.

Samsara (NYSE:IOT – Get Free Report) last released its earnings results on Thursday, September 5th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The firm had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.53 million. During the same quarter in the previous year, the company posted ($0.11) earnings per share. The company’s revenue was up 36.9% compared to the same quarter last year. Analysts predict that Samsara will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $45.06, for a total transaction of $14,894,042.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of Samsara stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total value of $14,894,042.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Gc Venture Viii-B, Llc sold 1,978 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $46.44, for a total value of $91,858.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,940,034 shares of company stock worth $81,749,167. Company insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

A number of institutional investors and hedge funds have recently bought and sold shares of IOT. CHURCHILL MANAGEMENT Corp raised its holdings in Samsara by 135.6% in the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 60,251 shares of the company’s stock valued at $2,277,000 after acquiring an additional 34,679 shares during the last quarter. Mission Wealth Management LP purchased a new stake in shares of Samsara in the first quarter valued at approximately $1,100,000. Quarry LP acquired a new stake in shares of Samsara in the fourth quarter valued at approximately $37,000. Magnetar Financial LLC purchased a new position in Samsara during the second quarter worth approximately $1,240,000. Finally, Swiss National Bank acquired a new position in Samsara during the first quarter worth $19,477,000. 89.39% of the stock is currently owned by institutional investors and hedge funds.

About Samsara

(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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