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

Samsara (NYSE:IOT) announced its quarterly earnings data on Thursday. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04, FiscalAI reports. Samsara had a negative return on equity of 0.72% and a negative net margin of 0.56%.The firm had revenue of $478.84 million for the quarter, compared to the consensus estimate of $455.21 million.

Samsara Trading Down 2.9%

Shares of Samsara stock traded down $1.05 on Thursday, hitting $35.29. The stock had a trading volume of 10,463,356 shares, compared to its average volume of 7,396,112. Samsara has a 52-week low of $23.38 and a 52-week high of $48.40. The stock has a market cap of $20.49 billion, a price-to-earnings ratio of -1,763.47, a P/E/G ratio of 11.12 and a beta of 1.34. The company’s 50 day moving average price is $30.53 and its 200 day moving average price is $32.46.

Insider Buying and Selling

In other Samsara news, insider Adam Eltoukhy sold 5,473 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was 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 represents a 1.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Benjamin Louis Kirchhoff sold 2,554 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $27.47, for a total value of $70,158.38. Following the sale, the chief accounting officer directly owned 111,704 shares of the company’s stock, valued at approximately $3,068,508.88. This represents a 2.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 2,700,139 shares of company stock valued at $79,212,871 in the last quarter. 35.13% of the stock is currently owned by insiders.

Institutional Trading of Samsara

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC acquired a new stake in shares of Samsara in the 4th quarter valued at approximately $13,464,000. Royal Bank of Canada lifted its holdings in shares of Samsara by 100.3% in 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 period. Jones Financial Companies Lllp lifted its holdings in shares of Samsara by 2,444.6% in 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 period. Empowered Funds LLC lifted its holdings in shares of Samsara by 3.4% in 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 period. Finally, Marshall Wace LLP lifted its holdings in shares of Samsara by 142.4% in the 2nd quarter. Marshall Wace LLP now owns 68,860 shares of the company’s stock valued at $2,739,000 after buying an additional 40,450 shares during the period. 96.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on IOT shares. Royal Bank Of Canada lifted their target price on Samsara from $35.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Piper Sandler restated an “overweight” rating and issued a $39.00 target price (up from $37.00) on shares of Samsara in a research report on Friday, March 6th. Weiss Ratings upgraded Samsara from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. The Goldman Sachs Group set a $45.00 target price on Samsara in a research report on Monday, March 2nd. Finally, TD Cowen restated a “buy” rating on shares of Samsara in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.