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Samsara Inc. (IOT) Stock Drops Despite Market Gains: Important Facts to Note
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In the latest market close, Samsara Inc. (IOT - Free Report) reached $39.74, with a -0.23% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.38%. Elsewhere, the Dow saw an upswing of 0.61%, while the tech-heavy Nasdaq appreciated by 0.03%.
Shares of the company have appreciated by 4.1% over the course of the past month, outperforming the Computer and Technology sector's loss of 7.5% and the S&P 500's loss of 3.2%.
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 September 5, 2024. The company is expected to report EPS of $0.01, unchanged from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $289.39 million, reflecting a 31.98% rise from the equivalent quarter last year.
IOT's full-year Zacks Consensus Estimates 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 any latest changes in analyst estimates for Samsara Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Samsara Inc. boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Samsara Inc. is at present trading with a Forward P/E ratio of 298.73. This represents a premium compared to its industry's average Forward P/E 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 assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated 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.
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Samsara Inc. (IOT) Stock Drops Despite Market Gains: Important Facts to Note
In the latest market close, Samsara Inc. (IOT - Free Report) reached $39.74, with a -0.23% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.38%. Elsewhere, the Dow saw an upswing of 0.61%, while the tech-heavy Nasdaq appreciated by 0.03%.
Shares of the company have appreciated by 4.1% over the course of the past month, outperforming the Computer and Technology sector's loss of 7.5% and the S&P 500's loss of 3.2%.
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 September 5, 2024. The company is expected to report EPS of $0.01, unchanged from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $289.39 million, reflecting a 31.98% rise from the equivalent quarter last year.
IOT's full-year Zacks Consensus Estimates 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 any latest changes in analyst estimates for Samsara Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Samsara Inc. boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Samsara Inc. is at present trading with a Forward P/E ratio of 298.73. This represents a premium compared to its industry's average Forward P/E 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 assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated 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.