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

Samsara (NYSE:IOT) released its quarterly earnings results on Thursday. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.04, Briefing.com reports. The firm had revenue of $300.20 million for the quarter, compared to analysts’ expectations 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 revenue was up 36.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.11) EPS.

Samsara Stock Up 0.3 %

NYSE:IOT opened at $38.77 on Friday. The stock has a market cap of $21.35 billion, a PE ratio of -77.54 and a beta of 1.49. The business’s 50-day simple moving average is $37.91 and its two-hundred day simple moving average is $35.96. Samsara has a 52 week low of $21.48 and a 52 week high of $42.49.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IOT. Loop Capital reissued a “buy” rating and set a $42.00 price target on shares of Samsara in a report on Friday, June 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 target price on shares of Samsara in a report on Wednesday, June 26th. Evercore ISI decreased their target price on Samsara from $41.00 to $40.00 and set an “in-line” rating on the stock in a report on Friday, June 7th. Wolfe Research reaffirmed an “outperform” rating and issued a $44.00 target price on shares of Samsara in a report on Friday, June 28th. Finally, BMO Capital Markets raised their target price on Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a report on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $38.33.

Insider Activity

In other news, CAO James Andrew Munk sold 1,105 shares of the firm’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 in the company, valued at $10,129,065.23. The sale was disclosed in a document filed with the SEC, 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 transaction of $8,013,737.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO James Andrew Munk sold 1,105 shares of Samsara stock in a transaction dated Monday, June 10th. The stock was 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 of the company’s stock, valued at approximately $10,129,065.23. The disclosure for this sale can be found here. Insiders sold a total of 1,801,854 shares of company stock worth $64,479,185 over the last 90 days. Corporate 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.