Samsara is today's selection for IBD 50 Stocks To Watch as the Internet of Things specialist is trying to break out of a cup base with a buy point of 40.54. Thus far this month, Samsara stock has surged 14% while the S&P 500 has gained less than 4%.
Buying shares as they move past buy points in bases is a great way of improving your portfolio. Samsara stock is within striking distance of a buy zone with a 40.54 entry; shares hovered around 40 Monday morning.
Further, Samsara's relative strength line is at a new high as shares outperform the S&P 500, according to IBD MarketSurge chart tools. Shares have been outperforming 95% of other stocks in the Investors' Business Daily database as well.
The company will announce its first-quarter results on June 6. Analysts expect sales of $272.4 million or 33% growth, with earnings of 1 cent per share.
Meanwhile, during the fourth quarter, sales grew 48% to $276.3 million. Also, earnings of 4 cents per share reversed a loss of 2 cents in the prior year.
Samsara Stock: Connecting Data In The Cloud
Samsara provides a platform and artificial intelligence tools to connect data in the cloud via a network collectively known as the Internet of Things. It works with businesses in transportation, logistics, construction, warehousing and others.
In April, the company helped logistics company JJX Logistics to reduce emissions when handling dangerous cargo. That includes cargo such as lithium ion batteries and corrosive liquids.
Meanwhile, the stock has passed other metrics with high marks and holds a Composite Rating of 95 and EPS Rating of 80.
Samsara stock has an Accumulation/Distribution Rating of B+. That shows strong support from fund mangers in recent weeks. Further, more funds have been net buyers of the stock over the past seven quarters.
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