Sanjit Biswas Now Reports 30.8% Passive Stake In Samsara As Of Sept 30 Versus Prior Stake Of 36.1% As Of Feb 3- Sec Filing

Samsara Inc. (IOT) closed the most recent trading day at $52.52, moving -0.38% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.1% for the day. Meanwhile, the Dow gained 0.69%, and the Nasdaq, a tech-heavy index, added 0.06%.

Prior to today's trading, shares of the company had gained 4.4% over the past month. This has lagged the Computer and Technology sector's gain of 4.92% and outpaced the S&P 500's gain of 4.37% in that time.

Analysts and investors alike will be keeping a close eye on the performance of Samsara Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on December 5, 2024. The company's earnings per share (EPS) are projected to be $0.04, reflecting no change from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $310.65 million, up 30.78% from the year-ago period.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.17 per share and a revenue of $1.22 billion, representing changes of +142.86% and +30.6%, respectively, from the prior year.

Any recent changes to analyst estimates for Samsara Inc. should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Samsara Inc. boasts a Zacks Rank of #3 (Hold).

From a valuation perspective, Samsara Inc. is currently exchanging hands at a Forward P/E ratio of 304.15. For comparison, its industry has an average Forward P/E of 32.45, which means Samsara Inc. is trading at a premium to the group.

The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 56, placing it within the top 23% of over 250 industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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Backblaze, Inc. (BLZE) came out with a quarterly loss of $0.10 per share versus the Zacks Consensus Estimate of a loss of $0.11. This compares to loss of $0.21 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 9.09%. A quarter ago, it was expected that this company would post a loss of $0.12 per share when it actually produced a loss of $0.11, delivering a surprise of 8.33%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Backblaze, which belongs to the Zacks Internet - Software industry, posted revenues of $32.59 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.16%. This compares to year-ago revenues of $25.3 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Backblaze shares have added about 5.3% since the beginning of the year versus the S&P 500's gain of 24.3%.

What's Next for Backblaze?

While Backblaze has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Backblaze: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.08 on $33.71 million in revenues for the coming quarter and -$0.44 on $127.53 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Software is currently in the top 25% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Samsara Inc. (IOT), another stock in the same industry, has yet to report results for the quarter ended October 2024. The results are expected to be released on December 5.

This company is expected to post quarterly earnings of $0.04 per share in its upcoming report, which represents no change from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Samsara Inc.'s revenues are expected to be $310.65 million, up 30.8% from the year-ago quarter.

Zacks Investment Research

In the latest market close, Samsara Inc. (IOT) reached $46.66, with a +0.95% movement compared to the previous day. This change outpaced the S&P 500's 0.28% loss on the day. On the other hand, the Dow registered a loss of 0.61%, and the technology-centric Nasdaq decreased by 0.33%.

Heading into today, shares of the company had lost 2.9% over the past month, lagging the Computer and Technology sector's gain of 2.1% and the S&P 500's gain of 0.41% in that time.

Market participants will be closely following the financial results of Samsara Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be $0.04, reflecting no change from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $310.65 million, up 30.78% from the year-ago period.

For the full year, the Zacks Consensus Estimates are projecting earnings of $0.17 per share and revenue of $1.22 billion, which would represent changes of +142.86% and +30.6%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for Samsara Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Samsara Inc. currently has a Zacks Rank of #3 (Hold).

Looking at valuation, Samsara Inc. is presently trading at a Forward P/E ratio of 266.65. This represents a premium compared to its industry's average Forward P/E of 31.17.

The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 85, finds itself in the top 34% echelons of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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