Samsara Inc. Expected to Earn Q1 2024 Earnings of ($0.04) Per Share (NYSE:IOT)

Samsara Inc. (NYSE:IOTGet Rating) – Equities researchers at William Blair issued their Q1 2024 earnings per share estimates for shares of Samsara in a note issued to investors on Tuesday, June 7th. William Blair analyst B. Suri expects that the company will post earnings of ($0.04) per share for the quarter. William Blair also issued estimates for Samsara’s Q2 2024 earnings at ($0.05) EPS, Q3 2024 earnings at ($0.05) EPS and Q4 2024 earnings at ($0.04) EPS.

Samsara (NYSE:IOTGet Rating) last posted its quarterly earnings results on Thursday, June 2nd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03.

Several other brokerages also recently issued reports on IOT. Royal Bank of Canada reduced their price objective on Samsara from $28.00 to $18.00 in a research note on Tuesday, May 31st. Cowen decreased their target price on shares of Samsara to $20.00 in a research note on Friday, May 27th. Wells Fargo & Company dropped their price target on shares of Samsara to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 18th. Zacks Investment Research lowered Samsara from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, The Goldman Sachs Group lowered their target price on Samsara from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, April 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $24.50.

Samsara stock opened at $12.02 on Friday. Samsara has a fifty-two week low of $8.72 and a fifty-two week high of $31.41. The stock has a 50 day moving average price of $12.26.

In related news, insider Kiren Sekar sold 60,534 shares of Samsara stock in a transaction dated Tuesday, March 15th. The shares were sold at an average price of $13.34, for a total transaction of $807,523.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 81.12% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bessemer Group Inc. bought a new position in shares of Samsara in the fourth quarter worth about $28,000. Bank of America Corp DE bought a new position in shares of Samsara in the fourth quarter worth about $38,000. Royal Bank of Canada raised its stake in shares of Samsara by 61.6% during the first quarter. Royal Bank of Canada now owns 6,127 shares of the company’s stock worth $98,000 after buying an additional 2,335 shares during the last quarter. Advisor Group Holdings Inc. bought a new stake in shares of Samsara during the fourth quarter worth approximately $93,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Samsara during the fourth quarter worth approximately $195,000. 45.47% of the stock is owned by 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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