Samsara (NYSE:IOT) Trading Up 7.6% on Analyst Upgrade

Samsara Inc. (NYSE:IOT)’s stock price shot up 7.6% during mid-day trading on Monday after Cantor Fitzgerald upgraded the stock to a strong-buy rating. The stock traded as high as $40.78 and last traded at $41.2910. Approximately 2,219,241 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 6,986,319 shares. The stock had previously closed at $38.38.

Other analysts have also recently issued reports about the stock. Wolfe Research reaffirmed an “outperform” rating on shares of Samsara in a research note on Thursday, June 11th. Wells Fargo & Company boosted their target price on Samsara from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Friday, September 4th. KeyCorp increased their price target on Samsara from $46.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, September 4th. Piper Sandler reaffirmed a “neutral” rating and set a $46.00 price target (up from $40.00) on shares of Samsara in a report on Friday, September 4th. Finally, BTIG Research lifted their price objective on Samsara from $45.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.05.

Insider Transactions at Samsara

In other news, CEO Sanjit Biswas sold 244,805 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $36.77, for a total transaction of $9,001,479.85. Following the sale, the chief executive officer directly owned 94,000 shares of the company’s stock, valued at $3,456,380. This represents a 72.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Bicket sold 245,925 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $36.77, for a total transaction of $9,042,662.25. Following the completion of the sale, the insider directly owned 94,000 shares of the company’s stock, valued at approximately $3,456,380. This represents a 72.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 2,219,206 shares of company stock valued at $83,821,258. Insiders own 35.13% of the company’s stock.

Institutional Investors Weigh In On Samsara

Several hedge funds and other institutional investors have recently made changes to their positions in the company. USS Investment Management Ltd bought a new stake in shares of Samsara in the 1st quarter valued at $28,232,000. Spyglass Capital Management LLC lifted its holdings in Samsara by 25.5% during the first quarter. Spyglass Capital Management LLC now owns 2,946,646 shares of the company’s stock worth $93,379,000 after acquiring an additional 599,651 shares in the last quarter. Allen Operations LLC grew its stake in Samsara by 83.3% in the fourth quarter. Allen Operations LLC now owns 66,020 shares of the company’s stock valued at $2,340,000 after acquiring an additional 30,000 shares during the period. Geode Capital Management LLC grew its stake in Samsara by 17.8% in the fourth quarter. Geode Capital Management LLC now owns 6,196,703 shares of the company’s stock valued at $219,035,000 after acquiring an additional 935,855 shares during the period. Finally, Brown Advisory Inc. increased its holdings in shares of Samsara by 42.1% in the fourth quarter. Brown Advisory Inc. now owns 11,213,972 shares of the company’s stock worth $397,536,000 after acquiring an additional 3,322,023 shares in the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

Samsara Stock Down 3.0%

The company has a market capitalization of $24.25 billion, a P/E ratio of 260.14, a P/E/G ratio of 10.57 and a beta of 1.35. The firm has a fifty day simple moving average of $38.48 and a 200-day simple moving average of $33.93.

Samsara (NYSE:IOT) last released its quarterly earnings data on Thursday, September 3rd. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.04. Samsara had a return on equity of 4.13% and a net margin of 4.90%.The business had revenue of $508.44 million for the quarter, compared to analysts’ expectations of $483.29 million. During the same quarter in the previous year, the business posted $0.12 EPS. Samsara’s revenue for the quarter was up 29.9% on a year-over-year basis. Samsara has set its FY 2027 guidance at 0.760-0.780 EPS and its Q3 2027 guidance at 0.180-1.090 EPS. On average, sell-side analysts predict that Samsara Inc. will post 0.13 earnings per share for the current fiscal year.

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.