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

Samsara (NYSE:IOT) announced its quarterly earnings data on Thursday. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 27.14% and a negative return on equity of 21.66%. The firm’s revenue for the quarter was up 36.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.11) EPS.

Samsara Price Performance

Shares of NYSE:IOT opened at $43.98 on Friday. The firm has a market capitalization of $24.22 billion, a P/E ratio of -87.96 and a beta of 1.50. The business’s 50-day moving average is $38.12 and its 200 day moving average is $36.03. Samsara has a 1 year low of $21.48 and a 1 year high of $45.43.

Insider Transactions at Samsara

In other Samsara news, insider Adam Eltoukhy sold 9,471 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 465,967 shares in the company, valued at approximately $17,608,892.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Marc L. Andreessen sold 277,484 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $28.88, for a total value of $8,013,737.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam Eltoukhy sold 9,471 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $37.79, for a total value of $357,909.09. Following the completion of the sale, the insider now owns 465,967 shares in the company, valued at approximately $17,608,892.93. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,801,854 shares of company stock worth $64,479,185. Insiders own 60.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IOT. Truist Financial lifted their target price on Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Friday. Bank of America raised their target price on shares of Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Friday. Royal Bank of Canada increased their price objective on shares of Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday. BMO Capital Markets boosted 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. Finally, Wells Fargo & Company upped their target price on Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.