IoT solutions provider Samsara (NYSE:IOT) will be reporting earnings this Thursday after market close. Here’s what to expect.
Samsara beat analysts’ revenue expectations last quarter, reporting revenues of $478.8 million, up 30.5% year on year. It was a very strong quarter for the company, with EPS guidance for next quarter exceeding analysts’ expectations and a solid beat of analysts’ adjusted operating income estimates.
Is Samsara a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Samsara’s revenue to grow 23.5% year on year, slowing from the 30.4% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Samsara has a history of exceeding Wall Street’s expectations.
Looking at Samsara’s peers in the data analytics segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Palantir Technologies delivered year-on-year revenue growth of 92.8%, beating analysts’ expectations by 6.7%, and CLEAR Secure reported revenues up 26.6%, topping estimates by 3.1%. Palantir Technologies traded up 29.5% following the results while CLEAR Secure was down 4.9%.
Read our full analysis of Palantir Technologies’s results here and CLEAR Secure’s results here.
There has been positive sentiment among investors in the data analytics segment, with share prices up 11.1% on average over the last month. Samsara is up 6.2% during the same time and is heading into earnings with an average analyst price target of $45.66 (compared to the current share price of $39.45).
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