Yahoo Finance Samsara Inc. (IOT) Stock Sinks As Market Gains: Here's Why
The latest trading session saw Samsara Inc. (IOT) ending at $39.37, denoting a -0.25% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 0.7% for the day. On the other hand, the Dow registered a gain of 0.01%, and the technology-centric Nasdaq increased by 1.1%.
Heading into today, shares of the company had gained 14.77% over the past month, outpacing the Computer and Technology sector's gain of 8.26% and the S&P 500's gain of 4.03% in that time.
The investment community will be paying close attention to the earnings performance of Samsara Inc. in its upcoming release. The company is slated to reveal its earnings on June 6, 2024. In that report, analysts expect Samsara Inc. to post earnings of $0.01 per share. This would mark year-over-year growth of 150%. Alongside, our most recent consensus estimate is anticipating revenue of $272.51 million, indicating a 33.37% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.12 per share and revenue of $1.19 billion. These totals would mark changes of +71.43% and +27.47%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Samsara Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Samsara Inc. is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Samsara Inc. is presently trading at a Forward P/E ratio of 334.49. For comparison, its industry has an average Forward P/E of 28.88, which means Samsara Inc. is trading at a premium to the group.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 58, putting it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Samsara Inc. (IOT) : Free Stock Analysis Report
