Samsara (NYSE:IOT) Issues Q2 Earnings Guidance

Samsara (NYSE:IOTGet Rating) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $(0.06)-$(0.07) for the period, compared to the consensus EPS estimate of ($0.08). The company issued revenue guidance of $142-144 million, compared to the consensus revenue estimate of $137.64 million.Samsara also updated its FY 2023 guidance to -$0.24–$0.22 EPS.

A number of research firms have recently issued reports on IOT. Cowen dropped their target price on shares of Samsara from $31.00 to $27.00 in a report on Thursday, March 3rd. The Goldman Sachs Group decreased their target price on shares of Samsara from $30.00 to $27.00 and set a buy rating on the stock in a research report on Thursday, April 14th. StockNews.com started coverage on shares of Samsara in a research report on Thursday, March 31st. They issued a sell rating on the stock. Zacks Investment Research raised shares of Samsara from a hold rating to a buy rating and set a $11.00 target price on the stock in a research report on Wednesday, May 25th. Finally, Morgan Stanley decreased their target price on shares of Samsara from $30.00 to $28.00 and set an overweight rating on the stock in a research report on Thursday, March 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Samsara currently has a consensus rating of Buy and a consensus price target of $24.50.

Samsara stock traded up $0.50 during midday trading on Thursday, reaching $11.93. The company’s stock had a trading volume of 2,195,823 shares, compared to its average volume of 1,556,743. Samsara has a fifty-two week low of $8.72 and a fifty-two week high of $31.41. The company’s 50 day simple moving average is $12.95.

Samsara (NYSE:IOTGet Rating) last announced its quarterly earnings results on Wednesday, March 2nd. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $125.75 million during the quarter, compared to analysts’ expectations of $116.15 million. On average, equities analysts anticipate that Samsara will post -0.24 EPS for the current fiscal year.

In other Samsara news, insider Kiren Sekar sold 60,534 shares of the firm’s stock in a transaction dated Tuesday, March 15th. The stock was sold at an average price of $13.34, for a total value of $807,523.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 81.12% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Polar Capital Holdings Plc purchased a new stake in Samsara during the 1st quarter worth approximately $602,000. Royal Bank of Canada increased its holdings in shares of Samsara by 61.6% in the 1st quarter. Royal Bank of Canada now owns 6,127 shares of the company’s stock valued at $98,000 after acquiring an additional 2,335 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Samsara by 13.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,147,071 shares of the company’s stock valued at $18,376,000 after acquiring an additional 132,824 shares during the last quarter. State Street Corp bought a new stake in shares of Samsara in the 1st quarter valued at approximately $2,085,000. Finally, Northern Trust Corp bought a new stake in shares of Samsara in the 1st quarter valued at approximately $1,083,000. 45.47% of the stock is currently owned by hedge funds and other institutional investors.

About Samsara (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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