Samsara (NYSE:IOT) Releases Q2 2023 Earnings Guidance

Samsara (NYSE:IOTGet Rating) updated its second quarter 2023 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of -$0.07–$0.06 for the period, compared to the consensus estimate of -$0.08. The company issued revenue guidance of $142.00 million-$144.00 million, compared to the consensus revenue estimate of $137.50 million. Samsara also updated its FY 2023 guidance to -$0.24–$0.22 EPS.

A number of analysts have recently issued reports on the company. Royal Bank of Canada dropped their target price on Samsara from $28.00 to $18.00 in a research report on Tuesday, May 31st. The Goldman Sachs Group downgraded Samsara from a buy rating to a neutral rating and decreased their price target for the stock from $27.00 to $16.00 in a research note on Monday, June 27th. Wells Fargo & Company decreased their price target on Samsara to $20.00 and set an overweight rating for the company in a research note on Wednesday, May 18th. StockNews.com initiated coverage on Samsara in a research note on Thursday, March 31st. They issued a sell rating for the company. Finally, Cowen decreased their price target on Samsara to $20.00 in a research note on Friday, May 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Samsara presently has an average rating of Moderate Buy and an average price target of $24.78.

Shares of IOT stock opened at $12.39 on Friday. The business has a 50 day moving average of $11.40 and a two-hundred day moving average of $16.39. Samsara has a 52 week low of $8.72 and a 52 week high of $31.41.

Samsara (NYSE:IOTGet Rating) last issued its earnings results on Thursday, June 2nd. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). The business had revenue of $142.65 million during the quarter, compared to the consensus estimate of $131.70 million. On average, analysts predict that Samsara will post -0.57 earnings per share for the current fiscal year.

In other news, insider Kiren Sekar sold 70,062 shares of Samsara stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $10.99, for a total transaction of $769,981.38. Following the sale, the insider now owns 264,045 shares of the company’s stock, valued at $2,901,854.55. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. PointState Capital LP raised its holdings in Samsara by 62.7% during the first quarter. PointState Capital LP now owns 3,641,355 shares of the company’s stock worth $58,335,000 after purchasing an additional 1,402,994 shares in the last quarter. BlackRock Inc. raised its holdings in Samsara by 17.3% during the first quarter. BlackRock Inc. now owns 3,227,576 shares of the company’s stock worth $51,704,000 after purchasing an additional 477,013 shares in the last quarter. Vanguard Group Inc. raised its holdings in Samsara by 52.8% during the first quarter. Vanguard Group Inc. now owns 3,033,132 shares of the company’s stock worth $48,591,000 after purchasing an additional 1,048,694 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Samsara by 13.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,147,071 shares of the company’s stock worth $18,376,000 after purchasing an additional 132,824 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. bought a new stake in Samsara during the first quarter worth approximately $3,109,000. 45.47% of the stock is currently owned by institutional investors.

Samsara Company Profile (Get Rating)

Samsara Inc provides solutions that connect 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; and applications for video-based safety, vehicle telematics, apps and driver workflows, equipment monitoring, and site visibility.

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