Samsara (NYSE:IOT) Posts Earnings Results

Samsara (NYSE:IOT) issued 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. 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 analysts’ expectations of $289.53 million. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. The business’s quarterly revenue was up 36.9% on a year-over-year basis.

Samsara Stock Performance

IOT stock opened at $38.77 on Friday. Samsara has a fifty-two week low of $21.48 and a fifty-two week high of $42.49. The stock’s 50 day simple moving average is $37.91 and its 200 day simple moving average is $35.96. The company has a market cap of $21.35 billion, a P/E ratio of -77.54 and a beta of 1.49.

Insider Buying and Selling at Samsara

In related news, CAO James Andrew Munk sold 1,105 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $30.01, for a total value of $33,161.05. Following the transaction, the chief accounting officer now directly owns 337,523 shares in the company, valued at approximately $10,129,065.23. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Samsara news, CEO Sanjit Biswas sold 84,030 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 of the company’s stock, valued at approximately $33,814,921.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO James Andrew Munk sold 1,105 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were 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 in the company, valued at approximately $10,129,065.23. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,801,854 shares of company stock valued at $64,479,185. Company insiders own 60.04% of the company’s stock.

Analysts Set New Price Targets

IOT has been the topic of several analyst reports. StockNews.com cut Samsara from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 price objective on shares of Samsara in a research report on Wednesday, June 26th. Bank of America lifted their target price on shares of Samsara from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Evercore ISI cut their price target on shares of Samsara from $41.00 to $40.00 and set an “in-line” rating on the stock in a research report on Friday, June 7th. Finally, Loop Capital reissued a “buy” rating and issued a $42.00 price objective on shares of Samsara in a research report on Friday, June 28th. One 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. According to MarketBeat, the company has an average 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.