Samsara (NYSE:IOT) Issues Earnings Results, Beats Expectations By $0.04 EPS

Samsara (NYSE:IOT) released 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 firm had revenue of $300.20 million during the quarter, compared to analysts’ expectations of $289.53 million. Samsara had a negative net margin of 27.14% and a negative return on equity of 21.66%. The company’s revenue for the quarter was up 36.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.11) earnings per share.

Samsara Stock Up 13.6 %

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

Wall Street Analyst Weigh In

Several research firms recently commented on IOT. TD Cowen upped their price target on shares of Samsara from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Friday. Piper Sandler lifted their price target on shares of Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday. BMO Capital Markets increased their price target on Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a research report on Friday. Truist Financial lifted their price objective on Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a report on Friday. Finally, StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research report on Friday. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.07.

Insider Activity

In related news, insider Dominic Phillips sold 21,053 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $30.49, for a total value of $641,905.97. Following the sale, the insider now owns 1,137,989 shares of the company’s stock, valued at $34,697,284.61. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Adam Eltoukhy sold 9,471 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $37.79, for a total transaction of $357,909.09. Following the completion of the sale, the insider now directly owns 465,967 shares in the company, valued at $17,608,892.93. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Dominic Phillips sold 21,053 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $30.49, for a total transaction of $641,905.97. Following the completion of the transaction, the insider now owns 1,137,989 shares in the company, valued at approximately $34,697,284.61. The disclosure for this sale can be found here. Insiders sold 1,801,854 shares of company stock valued at $64,479,185 over the last quarter. 60.04% of the stock is owned by company insiders.

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.