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.
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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