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

Samsara (NYSE:IOT) released its quarterly earnings results on Thursday. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04, Briefing.com reports. The company had revenue of $300.20 million during 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 revenue was up 36.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.11) earnings per share.

Samsara Stock Performance

NYSE:IOT opened at $38.77 on Friday. Samsara has a one year low of $21.48 and a one year high of $42.49. The firm has a market cap of $21.35 billion, a price-to-earnings ratio of -77.54 and a beta of 1.49. The firm’s fifty day moving average is $37.91 and its two-hundred day moving average is $35.96.

Analysts Set New Price Targets

Several brokerages have issued reports on IOT. StockNews.com downgraded shares of Samsara from a “hold” rating to a “sell” rating in a research note on Wednesday, August 21st. BMO Capital Markets raised their price objective on shares of Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a research note on Friday. Wolfe Research reissued an “outperform” rating and issued a $44.00 price objective on shares of Samsara in a research note on Friday, June 28th. Evercore ISI decreased their price objective on shares of Samsara from $41.00 to $40.00 and set an “in-line” rating for the company in a research note on Friday, June 7th. Finally, Loop Capital reissued a “buy” rating and issued a $42.00 price objective on shares of Samsara in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.33.

Insiders Place Their Bets

In other Samsara news, CAO James Andrew Munk sold 1,105 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $30.01, for a total value of $33,161.05. Following the completion of the transaction, the chief accounting officer now owns 337,523 shares in the company, valued at $10,129,065.23. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Samsara news, Director Marc L. Andreessen sold 277,484 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $28.88, for a total value of $8,013,737.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO James Andrew Munk sold 1,105 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $30.01, for a total transaction of $33,161.05. Following the completion of the transaction, the chief accounting officer now owns 337,523 shares of the company’s stock, valued at approximately $10,129,065.23. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,801,854 shares of company stock worth $64,479,185. Company insiders own 60.04% of the company’s stock.

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.