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

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

Samsara Price Performance

Shares of NYSE:IOT traded up $5.27 during trading on Friday, hitting $44.02. 12,523,425 shares of the company’s stock were exchanged, compared to its average volume of 3,679,773. Samsara has a 52-week low of $21.48 and a 52-week high of $45.43. The business’s 50-day simple moving average is $38.12 and its 200 day simple moving average is $36.03. The company has a market cap of $24.25 billion, a price-to-earnings ratio of -87.96 and a beta of 1.50.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IOT. BMO Capital Markets upped their price target on Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a report on Friday. Wells Fargo & Company upped their price objective on Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday. Evercore ISI upped their price objective on Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a research report on Friday. Truist Financial upped their price objective on Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Friday. Finally, Bank of America upped their price objective on Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.07.

Insider Buying and Selling

In related news, CEO Sanjit Biswas sold 93,107 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $39.92, for a total transaction of $3,716,831.44. Following the completion of the transaction, the chief executive officer now directly owns 76,800 shares of the company’s stock, valued at $3,065,856. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Adam Eltoukhy sold 9,471 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $37.79, for a total transaction of $357,909.09. Following the completion of the transaction, the insider now directly owns 465,967 shares of the company’s stock, valued at $17,608,892.93. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sanjit Biswas sold 93,107 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $39.92, for a total value of $3,716,831.44. Following the transaction, the chief executive officer now directly owns 76,800 shares of the company’s stock, valued at $3,065,856. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,801,854 shares of company stock worth $64,479,185. 60.04% of the stock is owned by corporate insiders.

Samsara Company Profile

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.