Samsara (NYSE:IOT) Issues Earnings Results

Samsara (NYSE:IOT) posted its earnings results on Thursday. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04, Briefing.com reports. Samsara had a negative return on equity of 21.66% and a negative net margin of 27.14%. The company had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.53 million. During the same quarter last year, the firm earned ($0.11) earnings per share. The company’s revenue was up 36.9% on a year-over-year basis.

Samsara Price Performance

IOT stock opened at $38.77 on Friday. The stock has a market cap of $21.35 billion, a price-to-earnings ratio of -77.54 and a beta of 1.49. The company has a 50 day simple moving average of $37.91 and a 200 day simple moving average of $35.96. Samsara has a 1 year low of $21.48 and a 1 year high of $42.49.

Insider Buying and Selling at Samsara

In other news, insider Dominic Phillips sold 21,053 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $30.49, for a total transaction of $641,905.97. Following the completion of the transaction, the insider now directly owns 1,137,989 shares in the company, valued at $34,697,284.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Samsara news, insider Dominic Phillips sold 21,053 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $30.49, for a total value of $641,905.97. Following the completion of the transaction, the insider now owns 1,137,989 shares of the company’s stock, valued at approximately $34,697,284.61. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Adam Eltoukhy sold 9,471 shares of Samsara stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $37.79, for a total value of $357,909.09. Following the sale, the insider now directly owns 465,967 shares in the company, valued at $17,608,892.93. The disclosure for this sale can be found here. Insiders have sold 1,801,854 shares of company stock worth $64,479,185 over the last quarter. Corporate insiders own 60.04% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on IOT shares. Loop Capital reiterated a “buy” rating and issued a $42.00 price objective on shares of Samsara in a research note on Friday, June 28th. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 price target on shares of Samsara in a research note on Wednesday, June 26th. Evercore ISI reduced their price target on Samsara from $41.00 to $40.00 and set an “in-line” rating on the stock in a research report on Friday, June 7th. Bank of America lifted their price objective on Samsara from $42.00 to $45.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Wolfe Research reissued an “outperform” rating and set a $44.00 target price on shares of Samsara in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.83.

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.