Samsara (NYSE:IOT) Posts Earnings Results, Beats Estimates By $0.04 EPS

Samsara (NYSE:IOT) posted its quarterly earnings data on Thursday. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04, Briefing.com reports. The company had revenue of $300.20 million for the quarter, compared to analyst estimates of $289.53 million. Samsara had a negative return on equity of 21.66% and a negative net margin of 27.14%. The firm’s quarterly revenue was up 36.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.11) earnings per share.

Samsara Price Performance

Samsara stock traded up $5.27 during trading hours on Friday, reaching $44.02. The company had a trading volume of 12,523,425 shares, compared to its average volume of 3,679,773. The company has a 50-day moving average price of $38.12 and a 200 day moving average price of $36.03. The firm has a market cap of $24.25 billion, a price-to-earnings ratio of -87.96 and a beta of 1.50. Samsara has a 12-month low of $21.48 and a 12-month high of $45.43.

Insiders Place Their Bets

In other Samsara news, CAO James Andrew Munk sold 1,105 shares of Samsara stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $30.01, for a total value of $33,161.05. Following the transaction, the chief accounting officer now directly owns 337,523 shares of the company’s stock, valued at approximately $10,129,065.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO James Andrew Munk sold 1,105 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $30.01, for a total transaction of $33,161.05. Following the transaction, the chief accounting officer now directly owns 337,523 shares of the company’s stock, valued at $10,129,065.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjit Biswas sold 84,030 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $41.94, for a total value of $3,524,218.20. Following the transaction, the chief executive officer now directly owns 806,269 shares in the company, valued at $33,814,921.86. The disclosure for this sale can be found here. Insiders have sold 1,801,854 shares of company stock valued at $64,479,185 in the last ninety days. Company insiders own 60.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IOT. Truist Financial increased their target price on Samsara from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Friday. Bank of America increased their target price on Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Friday. Piper Sandler increased their target price on Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday. BMO Capital Markets increased their price target on Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research report on Friday. Finally, Loop Capital increased their price target on Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Friday. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.07.

About Samsara

Samsara Inc provides solutions that connects 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.