Samsara (NYSE:IOT – Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.020-0.030 for the period, compared to the consensus earnings per share estimate of 0.020. The company issued revenue guidance of $257.0 million-$259.0 million, compared to the consensus revenue estimate of $250.4 million. Samsara also updated its FY 2024 guidance to 0.050-0.060 EPS.
Samsara Price Performance
Shares of IOT traded up $0.24 on Monday, hitting $33.91. The company’s stock had a trading volume of 3,161,387 shares, compared to its average volume of 3,105,545. The firm’s fifty day moving average price is $25.96 and its 200-day moving average price is $26.23. Samsara has a fifty-two week low of $10.48 and a fifty-two week high of $35.99.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on IOT shares. BMO Capital Markets upped their price objective on Samsara from $28.00 to $32.00 and gave the stock a market perform rating in a research note on Friday, December 1st. JPMorgan Chase & Co. boosted their target price on Samsara from $27.00 to $30.00 and gave the company a neutral rating in a research note on Friday, December 1st. Royal Bank of Canada boosted their target price on Samsara from $34.00 to $35.00 and gave the company an outperform rating in a research note on Friday, December 1st. The Goldman Sachs Group increased their target price on Samsara from $31.00 to $35.00 and gave the company a buy rating in a report on Friday, December 1st. Finally, FBN Securities initiated coverage on Samsara in a report on Wednesday, October 25th. They set an outperform rating and a $30.00 target price for the company. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Samsara has an average rating of Hold and an average target price of $31.56.
Insider Buying and Selling
In other Samsara news, insider Adam Eltoukhy sold 1,666 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $26.00, for a total transaction of $43,316.00. Following the completion of the sale, the insider now owns 767,489 shares of the company’s stock, valued at $19,954,714. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Adam Eltoukhy sold 1,666 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $26.00, for a total value of $43,316.00. Following the transaction, the insider now directly owns 767,489 shares in the company, valued at $19,954,714. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sanjit Biswas sold 89,800 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $30.48, for a total value of $2,737,104.00. Following the completion of the sale, the chief executive officer now owns 1,077,600 shares in the company, valued at $32,845,248. The disclosure for this sale can be found here. Insiders sold 2,065,519 shares of company stock valued at $53,539,285 over the last 90 days. Company insiders own 66.14% of the company’s stock.
Institutional Investors Weigh In On Samsara
Several large investors have recently added to or reduced their stakes in IOT. American Century Companies Inc. purchased a new stake in Samsara during the third quarter worth $203,000. Comerica Bank purchased a new stake in Samsara during the third quarter worth $183,000. The Manufacturers Life Insurance Company purchased a new stake in Samsara during the third quarter worth $729,000. Northern Trust Corp lifted its holdings in Samsara by 2.8% during the third quarter. Northern Trust Corp now owns 288,271 shares of the company’s stock worth $7,267,000 after buying an additional 7,745 shares during the period. Finally, LPL Financial LLC lifted its holdings in shares of Samsara by 11.8% during the 3rd quarter. LPL Financial LLC now owns 68,240 shares of the company’s stock valued at $1,720,000 after purchasing an additional 7,209 shares during the last quarter. 52.47% of the stock is owned by institutional investors.
Samsara Company Profile
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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