Samsara Inc. (NYSE: IOT) stock fell -3.07% on Friday to $28.14 against a previous-day closing price of $29.03. With 10.54 million shares changed hands, the volume of the stock remained heavier than its average volume of 3.02 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $28.44 whereas the lowest price it dropped to was $26.77. The 52-week range on IOT shows that it touched its highest point at $32.41 and its lowest point at $8.42 during that stretch. It currently has a 1-year price target of $30.10. Beta for the stock currently stands at 1.39.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of IOT was down-trending over the past week, with a drop of -7.95%, but this was up by 20.46% over a month. Three-month performance dropped to -3.13% while six-month performance rose 44.53%. The stock gained 112.54% in the past year, while it has gained 126.39% so far this year. A look at the trailing 12-month EPS for IOT yields -0.46 with Next year EPS estimates of 0.07. For the next quarter, that number is 0.01. This implies an EPS growth rate of 31.50% for this year and 335.29% for next year.
Float and Shares Shorts:
At present, 531.75 million IOT shares are outstanding with a float of 173.05 million shares on hand for trading. On Aug 30, 2023, short shares totaled 12.15 million, which was 2.27% higher than short shares on Jul 30, 2023. In addition to Mr. Sanjit Biswas as the firm’s Co-Founder, CEO & Chairman, Mr. John Bicket serves as its Co-Founder, Exec. VP, CTO & Director.
Through their ownership of 74.08% of IOT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 38.14% of IOT, in contrast to 35.82% held by mutual funds. Shares owned by individuals account for 11.44%. As the largest shareholder in IOT with 12.73% of the stake, Baillie Gifford & Co. holds 21,419,199 shares worth 21,419,199. A second-largest stockholder of IOT, Morgan Stanley Investment Managem, holds 16,477,829 shares, controlling over 9.79% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in IOT, holding 13,318,757 shares or 7.92% stake. With a 2.60% stake in IOT, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 4,380,503 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.17% of IOT stock, is the second-largest Mutual Fund holder. It holds 3,646,872 shares valued at 99.78 million. Fidelity Global Innovators Invest holds 1.69% of the stake in IOT, owning 2,848,999 shares worth 77.95 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IOT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With IOT analysts setting a high price target of $34.00 and a low target of $25.00, the average target price over the next 12 months is $30.08. Based on these targets, IOT could surge 20.82% to reach the target high and fall by -11.16% to reach the target low. Reaching the average price target will result in a growth of 6.89% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded IOT stock several times over the past three months with 11 Buys and 51 Sells. In these transactions, 3,200,308 shares were bought while 1,856,280 shares were sold. The number of buy transactions has increased to 138 while that of sell transactions has risen to 224 over the past year. The total number of shares bought during that period was 35,966,318 while 17,692,484 shares were sold.