Samsara (NYSE:IOT) Earns Sell Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Samsara (NYSE:IOT – Get Rating) in a report issued on Thursday morning. The brokerage issued a sell rating on the stock.

A number of other equities analysts have also commented on IOT. Morgan Stanley raised their price objective on shares of Samsara from $17.00 to $18.00 and gave the stock an overweight rating in a research note on Friday, March 3rd. Wells Fargo & Company raised their price objective on shares of Samsara from $22.00 to $23.00 and gave the stock an overweight rating in a research note on Friday, March 3rd. The Goldman Sachs Group raised shares of Samsara from a neutral rating to a buy rating and raised their price objective for the stock from $16.00 to $27.00 in a research note on Friday, March 3rd. JPMorgan Chase & Co. raised their price objective on shares of Samsara from $14.00 to $17.00 and gave the stock a neutral rating in a research note on Friday, March 3rd. Finally, Royal Bank of Canada raised their price objective on shares of Samsara from $15.00 to $19.00 and gave the stock an outperform rating in a research note on Monday, February 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $21.90.

Samsara Price Performance

NYSE IOT opened at $19.02 on Thursday. Samsara has a 12 month low of $8.42 and a 12 month high of $21.49. The firm has a market capitalization of $9.87 billion, a PE ratio of -39.62 and a beta of 0.92. The company’s 50 day simple moving average is $15.57 and its 200 day simple moving average is $13.05.

Samsara (NYSE:IOT – Get Rating) last posted its quarterly earnings data on Thursday, March 2nd. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.11. The business had revenue of $186.58 million for the quarter, compared to analyst estimates of $172.77 million. Samsara had a negative net margin of 37.92% and a negative return on equity of 21.12%. Sell-side analysts anticipate that Samsara will post -0.4 earnings per share for the current fiscal year.

Insider Activity at Samsara

In related news, Director Hemant Taneja sold 3,000,000 shares of Samsara stock in a transaction on Monday, March 13th. The shares were sold at an average price of $18.86, for a total value of $56,580,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Adam Eltoukhy sold 10,000 shares of Samsara stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the sale, the insider now owns 911,402 shares of the company’s stock, valued at approximately $18,228,040. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Hemant Taneja sold 3,000,000 shares of Samsara stock in a transaction on Monday, March 13th. The shares were sold at an average price of $18.86, for a total transaction of $56,580,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,133,832 shares of company stock valued at $90,979,316. Insiders own 81.12% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IOT. State of Wyoming bought a new position in Samsara in the 4th quarter worth $27,000. Macquarie Group Ltd. increased its holdings in shares of Samsara by 37.3% during the 4th quarter. Macquarie Group Ltd. now owns 2,391 shares of the company’s stock worth $30,000 after purchasing an additional 649 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Samsara during the 2nd quarter worth about $33,000. TFC Financial Management bought a new position in shares of Samsara during the 3rd quarter worth about $36,000. Finally, IFP Advisors Inc bought a new position in shares of Samsara during the 3rd quarter worth about $44,000. Institutional investors own 43.05% of the company’s stock.

Samsara Company Profile

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Samsara Inc provides solutions that connect 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; and applications for video-based safety, vehicle telematics, apps and driver workflows, equipment monitoring, and site visibility.