At last close, Samsara Inc. (IOT) reached $39.74, moving -0.23% from the previous day. The stock lagged the S&P 500, which posted a daily gain of 0.38%. The Dow posted a 0.61% gain, while the tech-heavy Nasdaq gained 0.03%.
The company’s shares have gained 4.1 percent over the past month, outperforming the computer and technology sector’s 7.5 percent loss and the S&P 500’s 3.2 percent loss.
The investment community will be closely following Samsara Inc.’s earnings performance in the upcoming release. The company is set to announce its earnings on September 5, 2024. The company is expected to report earnings per share of $0.01, flat from the prior-year quarter. At the same time, our latest consensus estimate is calling for revenue of $289.39 million, up 31.98% from the corresponding quarter last year.
The Zacks Consensus Estimates for IOT for the full year are calling for earnings of $0.13 per share and revenue of $1.21 billion. These results would represent year-over-year changes of +85.71% and +29.2%, respectively.
Investors should also pay attention to recent changes in analyst estimates for Samsara Inc. Such recent changes usually indicate a changing landscape in near-term business trends. As a result, optimistic changes in estimates suggest that analysts have become positive about the company’s business health and profitability.
Our research suggests that these estimate changes are directly related to future stock price performance. To capitalize on this, we have developed the Zacks Rank, an exclusive model that takes these estimate changes into account and provides an operating rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an admirable track record of outperformance that is independently audited. #1-ranked stocks have delivered an average annual return of +25% since 1988. Over the past 30 days, the Zacks Consensus Estimate for earnings per share has not changed. Currently, Samsara Inc. has a Zacks Rank of #3 (Hold).
In terms of valuation, Samsara Inc. is currently trading at a P/E ratio of 298.73. This represents a premium to the industry average P/E ratio of 28.45.
The Internet Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank evaluates the strength of our individual industry groups by calculating the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
To follow IOT in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Download the 7 best stocks for the next 30 days today. Click here to get this free report
Samsara Inc. (IOT): Free Stock Analysis Report
To read this article on Zacks.com, click here.
Zacks Investment Research
