Truist Financial Sticks to Their Hold Rating for Samsara (IOT)

Business Insider

6 hours ago

In a report released today, Junaid Siddiqui from Truist Financial reiterated a Hold rating on Samsara (IOT – Research Report), with a price target of $42.00. The company's shares closed today at $39.72.
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Siddiqui covers the Technology sector, focusing on stocks such as CyberArk Software, Samsara, and Fortinet. According to TipRanks, Siddiqui has an average return of 35.7% and an 82.76% success rate on recommended stocks.
Samsara has an analyst consensus of Moderate Buy, with a price target consensus of $48.43, implying a 21.93% upside from current levels. In a report released yesterday, Morgan Stanley also maintained a Hold rating on the stock with a $50.00 price target.
Based on Samsara's latest earnings release for the quarter ending May 3, the company reported a quarterly revenue of $366.88 million and a GAAP net loss of $22.12 million. In comparison, last year the company earned a revenue of $280.73 million and had a GAAP net loss of $56.29 million
Based on the recent corporate insider activity of 244 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IOT in relation to earlier this year. Earlier this month, Dominic Phillips, the EVP, CFO of IOT sold 47,334.00 shares for a total of $1,855,492.80.