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

Samsara (NYSE:IOT) released its quarterly earnings data on Thursday. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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 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 firm’s revenue was up 36.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.11) earnings per share.

Samsara Stock Up 13.5 %

Samsara stock opened at $43.98 on Friday. The company has a market capitalization of $24.22 billion, a PE 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. The firm’s fifty day moving average is $38.12 and its 200 day moving average is $36.03.

Insiders Place Their Bets

In other news, CEO Sanjit Biswas sold 96,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $29.78, for a total transaction of $2,858,880.00. Following the transaction, the chief executive officer now owns 1,392,712 shares in the company, valued at $41,474,963.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Samsara news, CEO Sanjit Biswas sold 96,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $29.78, for a total value of $2,858,880.00. Following the completion of the sale, the chief executive officer now owns 1,392,712 shares of the company’s stock, valued at $41,474,963.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Bicket sold 83,583 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $41.94, for a total transaction of $3,505,471.02. Following the sale, the insider now owns 1,172,457 shares of the company’s stock, valued at approximately $49,172,846.58. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,801,854 shares of company stock worth $64,479,185. 60.04% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IOT. Wells Fargo & Company lifted their price target on shares of Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday. TD Cowen lifted their target price on Samsara from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Friday. Truist Financial increased their price target on Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Friday. Loop Capital raised their price objective on Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Bank of America upped their target price on Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a 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, Samsara presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.07.

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.