Samsara (NYSE: IOT-Get Rating), on the morning of Wednesday, presented an updated version of their profit forecast for the third quarter of 2023. The company has projected that its earnings per share for the quarter will fall somewhere in the range of-0.07 to $0.05, which is a big decrease from the general expectation of-0.07 per share. In addition, the company anticipated revenue of between $154.0 million and $156.0 million, a figure lower than the estimate of the average sales, which was $151.09 million. As a result, Samsara has updated its profit forecast for the coming fiscal year 2023 to be between -0.23 and 0.21 dollars per share.
On August 31, Samsara disclosed its most recent profit report, which was made available to the public on that same day (NYSE: IOT-Get Rating). The company announced earnings per share for the quarter of $0.04, which was $0.11 better than the consensus estimate for earnings per share from market experts, which was $0.15. In addition, the company reported sales for the quarter of $153.52 million, which is significantly more than the consensus expectation of $143.70 million for sales. Sell-side analysts forecast that Samsara will have a loss of -0.56 cents on every share during the current fiscal year.
On Wednesday morning, the market’s opening price was $12.31 for a single share of Samsara. During the last 52 weeks, the price of Samsara has ranged from a low of $8.72 to a high of $31.41 at various points. The stock price is currently trading at $14.58, which is higher than its moving averages for the past 50 and 200 days, which are $13.63. Numerous research companies have presented their points of view regarding IOT in recent years. In a research report made public on Monday, June 27, Goldman Sachs Group modified its recommendation for Samsara from a buy rating to a neutral rating in a research report that Previously, the recommendation was a buy rating. As a further consequence of this modification, the price objective that they had set for themselves decreased from $27.00 to $16.00. IN A RESEARCH NOTE, Evercore ISI stated in a research note released on September 6 that they will be increasing their price objective for Samsara shares to $17.00. The Royal Bank of Canada raised its target price for Samsara shares from $18.00 to $21.00 in a study published on Thursday, August 18. In addition, the financial institution provided a rating for the stock that was described as “outperform. Wells Fargo & Business upgraded Samsara to an overweight rating. It upped its price objective for the company from twenty dollars to twenty-two dollars in a research report published on Thursday, September 1, 2018.
Last but not least, Cowen lowered their price objective on Samsara to $20,000 in a research report made public on Friday, May 27. Seven analysts at the research companies have given the company a buy rating, two of the analysts have given it a hold rating, and one has given it a sell rating. According to data from MarketBeat, the average analyst recommendation for the stock is “Moderate Buy,” and the average price target for the stock is $24.44.
Benjamin Calderon, an employee of the company who is also a shareholder, sold 39,715 shares of the company’s stock on Thursday, July 7. This information was included in a separate piece of news. When all of the shares were finally put up for sale, the average price paid for each one was $14.01, resulting in total revenue of $556,407.15. After the conclusion of the transaction, the company insider now directly owns 167,250 shares of the company’s stock, which has a total value of approximately $2,343,172.50.
This information is available to the general public due to a filing submitted to the Securities and Exchange Commission (SEC), which may be seen on this website. On Thursday, July 7, Benjamin Calderon, an insider at Samsara, sold 39,715 shares of the company’s stock. The transaction was covered in other Samsara news at the time. When all of the shares were finally put up for sale, the average price paid for each one was $14.01, resulting in total revenue of $556,407.15. After the conclusion of the transaction, the corporate insider now directly owns 167,250 shares of the company’s stock.
The total value of these 167,250 shares is roughly $2,343,172.50. You can find more information regarding the transaction in the lawsuit file submitted by the Securities and Exchange Commission, which can be viewed at this URL. The file contains the details regarding the transaction. On September 15, Kiren Sekar, an employee of the firm who is considered an insider, sold 77,824 shares. Because each share was sold for an average of $12.23, the total amount of money transacted in the sale was $951,787.52.
After the completion of the transaction, the corporate insider will now directly own 323,721 shares of the company’s stock. The total value of these shares is roughly $3,959,107.83. Disclosures that are related to the sale might be found in this section of the website. The company made a total of $1,678,892 from the sale of 131,380 shares of stock by company insiders during the quarter before.
In the most recent few months, several hedge funds and other forms of institutional investors in this stock have experienced alterations in the portfolio composition of their holdings in this stock. PointState Capital LP increased the amount of Samsara stock owned by 62.7% during the first three months of 2018. PointState Capital LP is now the owner of 3,641,355 shares after purchasing an additional 1,402,994 in the recent last quarter. The current market value of PointState Capital LP’s holdings in the company is $58,335,000. During the second quarter, Legal & General Group Plc contributed an investment to Samsara that was worth a total of $13,394,000. The percentage of Samsara that Vanguard Group Inc. held rose by 52.8% during the first three months of 2018. During the quarter, Vanguard Group Inc. purchased an additional 1,048,694 shares of the company’s stock, bringing the total number of shares it owns to 3,033,132, which has a value of $48,591,000.
These new shares brought the total number of shares it owns in the company to 3,033,132. During the first three months of 2018, BlackRock Inc. increased its holdings of Samsara by 17.3 percent. BlackRock Inc. has increased the value of its holdings to a total of $51,704,000 by purchasing 4,771,013 extra shares of the company’s stock since the beginning of this quarter. The value of State Street Corporation’s stake in Samsara increased by 230.8% over the second quarter as compared to the first quarter. Following the acquisition of an additional 300,365 shares during the preceding quarter, State Street Corp now holds a total of 430,527 shares of the business, which is worth a total of $4,809,000. To the tune of 23.68% of the company’s shares, hedge funds and other types of institutional investors hold their positions.