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

Samsara (NYSE:IOT - Get Free Report) released its quarterly earnings data on Thursday. The company reported $0.05 EPS for the quarter, topping 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 business had revenue of $300.20 million for the quarter, compared to analyst estimates of $289.53 million. During the same quarter in the prior year, the firm posted ($0.11) EPS. The business's quarterly revenue was up 36.9% compared to the same quarter last year.

Samsara Stock Performance

Shares of NYSE IOT traded up $5.23 during mid-day trading on Friday, reaching $43.98. 12,521,008 shares of the company's stock were exchanged, compared to its average volume of 3,679,773. The company's 50-day moving average is $38.12 and its 200-day moving average is $36.03. The firm has a market capitalization of $24.22 billion, a price-to-earnings 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 Buying and Selling at Samsara

In other news, CEO Sanjit Biswas sold 84,030 shares of the business'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 value of $3,524,218.20. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider John Bicket sold 83,583 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $41.94, for a total transaction of $3,505,471.02. Following the transaction, the insider now owns 1,172,457 shares of the company's stock, valued at approximately $49,172,846.58. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sanjit Biswas sold 84,030 shares of the firm's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $41.94, for a total value of $3,524,218.20. Following the transaction, the chief executive officer now owns 806,269 shares of the company's stock, valued at $33,814,921.86. The disclosure for this sale can be found here. Insiders have sold 1,801,854 shares of company stock valued at $64,479,185 over the last 90 days. 60.04% of the stock is owned by insiders.

Analyst Ratings Changes

IOT has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on Samsara from $37.00 to $40.00 and gave the company a "neutral" rating in a research note on Friday. Morgan Stanley boosted their price objective on Samsara from $38.00 to $40.00 and gave the company an "equal weight" 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. BMO Capital Markets boosted their price target on shares of Samsara from $40.00 to $44.00 and gave the stock a "market perform" rating in a report on Friday. Finally, Wells Fargo & Company upped their price objective on shares of Samsara from $42.00 to $46.00 and gave the stock an "overweight" rating in a research report on Friday. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Samsara has a consensus rating of "Moderate Buy" and a consensus target price of $42.07.

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.