Samsara (NYSE:IOT) Announces Quarterly Earnings Results

Samsara (NYSE:IOT) announced its earnings results on Thursday. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04, FiscalAI reports. Samsara had a negative net margin of 0.56% and a negative return on equity of 0.72%. The business had revenue of $478.84 million during the quarter, compared to analyst estimates of $455.21 million.

Samsara Stock Down 2.9%

Shares of Samsara stock traded down $1.05 during trading on Thursday, reaching $35.29. The company’s stock had a trading volume of 10,745,346 shares, compared to its average volume of 7,423,762. Samsara has a 52-week low of $23.38 and a 52-week high of $48.40. The company has a market cap of $20.49 billion, a price-to-earnings ratio of -1,763.47, a PEG ratio of 11.12 and a beta of 1.34. The firm’s 50-day moving average is $30.53 and its two-hundred day moving average is $32.46.

Insider Buying and Selling at Samsara

In other news, insider Sanjit Biswas sold 31,081 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $31.21, for a total value of $970,038.01. Following the completion of the sale, the insider owned 307,056 shares of the company’s stock, valued at approximately $9,583,217.76. This represents a 9.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Adam Eltoukhy sold 5,473 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $30.21, for a total transaction of $165,339.33. Following the completion of the sale, the insider directly owned 468,305 shares of the company’s stock, valued at $14,147,494.05. This trade represents a 1.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 2,700,139 shares of company stock worth $79,212,871 over the last 90 days. Company insiders own 35.13% of the company’s stock.

Institutional Investors Weigh In On Samsara

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IOT. Brighton Jones LLC bought a new stake in Samsara during the 4th quarter valued at $13,464,000. Royal Bank of Canada raised its holdings in Samsara by 100.3% during the 1st quarter. Royal Bank of Canada now owns 96,142 shares of the company’s stock valued at $3,686,000 after buying an additional 48,135 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Samsara by 2,444.6% during the 1st quarter. Jones Financial Companies Lllp now owns 17,787 shares of the company’s stock valued at $682,000 after buying an additional 17,088 shares during the last quarter. Empowered Funds LLC raised its holdings in Samsara by 3.4% during the 1st quarter. Empowered Funds LLC now owns 10,168 shares of the company’s stock valued at $390,000 after buying an additional 335 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in Samsara by 142.4% in the 2nd quarter. Marshall Wace LLP now owns 68,860 shares of the company’s stock worth $2,739,000 after purchasing an additional 40,450 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IOT has been the subject of several research analyst reports. TD Cowen reiterated a “buy” rating on shares of Samsara in a research report on Friday, May 22nd. Piper Sandler reiterated an “overweight” rating and set a $39.00 target price (up from $37.00) on shares of Samsara in a research report on Friday, March 6th. The Goldman Sachs Group set a $45.00 target price on shares of Samsara in a research report on Monday, March 2nd. Royal Bank Of Canada lifted their target price on shares of Samsara from $35.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Finally, Evercore reiterated an “outperform” rating on shares of Samsara in a research report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Samsara has a consensus rating of “Moderate Buy” and a consensus target price of $46.18.

Samsara Company Profile

Samsara develops an industrial Internet of Things (IoT) platform designed to help organizations monitor, manage, and optimize physical operations. The company combines connected hardware — including telematics devices, GPS trackers, dash cameras, and environmental sensors — with cloud-based software to provide real-time visibility into vehicles, mobile equipment, and fixed assets. Its software offers tools for fleet management, driver and worker safety, asset tracking, compliance (including electronic logging), maintenance scheduling, and operational analytics.

The Samsara platform emphasizes integration of live data streams with analytics and workflow features to drive efficiency and safety across industries that rely on dispersed equipment and mobile workforces.