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What To Expect From Samsara’s (IOT) Q3 Earnings

IOT Cover Image

Internet of Things company Samsara (NYSE:IOT) will be announcing earnings results tomorrow after market hours. Here’s what to look for.

Samsara beat analysts’ revenue expectations by 3.7% last quarter, reporting revenues of $300.2 million, up 36.9% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ billings estimates and EPS guidance for next quarter exceeding analysts’ expectations.

Is Samsara a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Samsara’s revenue to grow 30.7% year on year to $310.6 million, slowing from the 39.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.04 per share.

Samsara Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Samsara has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 6.1% on average.

Looking at Samsara’s peers in the data analytics segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Health Catalyst delivered year-on-year revenue growth of 3.5%, meeting analysts’ expectations, and Palantir reported revenues up 30%, topping estimates by 3.1%. Health Catalyst traded up 7.5% following the results while Palantir was also up 23.4%.

Read our full analysis of Health Catalyst’s results here and Palantir’s results here.

There has been positive sentiment among investors in the data analytics segment, with share prices up 16.8% on average over the last month. Samsara is up 16% during the same time and is heading into earnings with an average analyst price target of $49.20 (compared to the current share price of $55.95).

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