Samsara (NYSE:IOT) Releases Earnings Results

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

Samsara Stock Up 13.5 %

Shares of NYSE IOT opened at $43.98 on Friday. The business’s 50 day moving average is $38.12 and its two-hundred day moving average is $36.03. Samsara has a 52-week low of $21.48 and a 52-week high of $45.43. The firm has a market cap of $24.22 billion, a price-to-earnings ratio of -87.96 and a beta of 1.50.

Insider Buying and Selling

In other Samsara news, CEO Sanjit Biswas sold 84,030 shares of Samsara stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $41.94, for a total value of $3,524,218.20. Following the completion of the transaction, the chief executive officer now directly owns 806,269 shares of the company’s stock, valued at approximately $33,814,921.86. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO James Andrew Munk sold 1,105 shares of the business’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 directly owns 337,523 shares of the company’s stock, valued at $10,129,065.23. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sanjit Biswas sold 84,030 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $41.94, for a total transaction of $3,524,218.20. Following the completion of the sale, the chief executive officer now directly owns 806,269 shares in the company, valued at approximately $33,814,921.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,801,854 shares of company stock valued at $64,479,185. Corporate insiders own 60.04% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research report on Friday. Evercore ISI increased their target price on Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a research report on Friday. Wells Fargo & Company increased their price objective on shares of Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Friday. Finally, Royal Bank of Canada boosted their target price on shares of Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company 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.