Reviewing The Case For Samsara Inc (IOT) Going Higher

Currently, there are 200.99M common shares owned by the public and among those 195.73M shares have been available to trade.

The company’s stock has a 5-day price change of 18.87% and -0.14% over the past three months. IOT shares are trading 6.26% year to date (YTD), with the 12-month market performance up to 28.00% higher. It has a 12-month low price of $21.48 and touched a high of $42.28 over the same period. IOT has an average intraday trading volume of 4.01 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 14.04%, 1.52%, and 11.92% respectively.

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Institutional ownership of Samsara Inc (NYSE: IOT) shares accounts for 28.37% of the company’s 200.99M shares outstanding.

It has a market capitalization of $19.54B and a beta (3y monthly) value of 1.49. The earnings-per-share (ttm) stands at -$0.51. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.79% over the week and 4.81% over the month.

Earnings per share for the fiscal year are expected to increase by 90.64%, and 78.99% over the next financial year.

Looking at the support for the IOT, a number of firms have released research notes about the stock. BofA Securities stated their Buy rating for the stock in a research note on June 20, 2024, with the firm’s price target at $37. Loop Capital coverage for the Samsara Inc (IOT) stock in a research note released on April 18, 2024 offered a Buy rating with a price target of $42. FBN Securities was of a view on October 25, 2023 that the stock is Outperform, while Truist gave the stock Hold rating on April 21, 2023, issuing a price target of $20. Morgan Stanley on their part issued Equal-Weight rating on March 23, 2023.

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