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

Samsara (NYSE:IOT) posted its 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 during the quarter, compared to the consensus estimate 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 period last year, the firm posted ($0.11) EPS.

Samsara Price Performance

Shares of Samsara stock traded up $5.27 on Friday, hitting $44.02. The company had a trading volume of 12,523,425 shares, compared to its average volume of 3,679,773. The business has a 50-day simple moving average of $38.12 and a 200-day simple moving average of $36.03. The company has a market cap of $24.25 billion, a PE ratio of -87.96 and a beta of 1.50. Samsara has a 52 week low of $21.48 and a 52 week high of $45.43.

Insider Activity at Samsara

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 value of $3,716,831.44. Following the transaction, the chief executive officer now owns 76,800 shares in the company, valued at $3,065,856. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Marc L. Andreessen sold 277,484 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $28.88, for a total transaction of $8,013,737.92. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sanjit Biswas sold 93,107 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was 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 in the company, valued at approximately $3,065,856. The disclosure for this sale can be found here. Insiders sold a total of 1,801,854 shares of company stock valued at $64,479,185 over the last ninety days. Insiders own 60.04% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on IOT shares. Truist Financial lifted their price objective on Samsara from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday. 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. Loop Capital lifted their price objective on Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday. Morgan Stanley upped their target price on shares of Samsara from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Royal Bank of Canada boosted their price objective on shares of Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Friday. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.