Samsara (NYSE:IOT) Upgraded to Strong-Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Samsara (NYSE:IOT) to a strong-buy rating in a report released on Sunday morning,Zacks reports.

Several other analysts have also commented on IOT. Cantor Fitzgerald assumed coverage on shares of Samsara in a research report on Monday, September 14th. They set an “overweight” rating and a $45.00 price target for the company. BMO Capital Markets lifted their price objective on shares of Samsara from $44.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, September 4th. KeyCorp boosted their price objective on shares of Samsara from $46.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, September 4th. Piper Sandler reissued a “neutral” rating and set a $46.00 target price (up from $40.00) on shares of Samsara in a research report on Friday, September 4th. Finally, Truist Financial raised their target price on shares of Samsara from $38.00 to $48.00 and gave the company a “hold” rating in a research note on Friday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Samsara presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.68.

Samsara Stock Up 3.3%

Samsara stock opened at $42.46 on Friday. The firm has a market cap of $24.86 billion, a P/E ratio of 265.37, a P/E/G ratio of 10.10 and a beta of 1.35. The business has a fifty day moving average of $39.41 and a two-hundred day moving average of $34.72. Samsara has a twelve month low of $23.38 and a twelve month high of $47.47.

Samsara (NYSE:IOT) last announced its quarterly earnings results on Thursday, September 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. The business had revenue of $508.44 million for the quarter, compared to the consensus estimate of $483.29 million. Samsara had a return on equity of 4.13% and a net margin of 4.90%.The business’s revenue was up 29.9% compared to the same quarter last year. During the same period last year, the business posted $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. Equities analysts expect that Samsara will post 0.13 earnings per share for the current year.

Insider Buying and Selling

In other Samsara news, insider John Bicket sold 202,548 shares of the company’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $36.81, for a total transaction of $7,455,791.88. Following the transaction, the insider owned 83,400 shares in the company, valued at approximately $3,069,954. This represents a 70.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjit Biswas sold 202,617 shares of Samsara stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $36.81, for a total transaction of $7,458,331.77. Following the sale, the chief executive officer owned 83,400 shares of the company’s stock, valued at $3,069,954. The trade was a 70.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 2,269,209 shares of company stock worth $86,597,738 in the last 90 days. 35.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Samsara

A number of large investors have recently bought and sold shares of IOT. Anchor Investment Management LLC purchased a new position in Samsara during the 2nd quarter worth approximately $46,000. Tidal Investments LLC increased its stake in shares of Samsara by 347.6% in the second quarter. Tidal Investments LLC now owns 72,129 shares of the company’s stock worth $2,339,000 after acquiring an additional 56,016 shares during the period. Engineers Gate Manager LP purchased a new position in shares of Samsara during the second quarter worth $671,000. RFG Advisory LLC raised its holdings in shares of Samsara by 1.9% during the second quarter. RFG Advisory LLC now owns 111,482 shares of the company’s stock worth $3,615,000 after purchasing an additional 2,117 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in Samsara by 63.1% during the second quarter. IFP Advisors Inc now owns 3,589 shares of the company’s stock valued at $116,000 after purchasing an additional 1,389 shares during the period. Hedge funds and other institutional investors own 96.02% of the company’s stock.

About Samsara

Samsara Inc is a technology company that provides connected operations solutions for organizations with physical operations. Its platform combines Internet of Things (IoT) hardware, cloud-based software and data analytics to help businesses monitor vehicles, equipment, worksites and mobile workforces.

The Samsara Connected Operations Cloud includes vehicle telematics, GPS tracking, video-based safety, routing and dispatch tools, equipment monitoring, workforce and workflow management, and compliance solutions.