Samsara (IOT) Drops 8.5%, Erasing Over $1 Billion in Market Cap

As seen on the 24/7 Wall St. homepage on October 16, 2026.

IOT Samsara
Regular session
$39.31
-8.45% open $42.94
$44$41$39

An 8.45% drop shaves more than $1 billion off Samsara's market cap in a single session. Moves this size are rare here, and the $42.94 open is now the level bulls need back.

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Samsara's sell-off ran in one direction from the open, pressure that signals more than routine profit-taking.

An 8.45% single-session loss wiped more than $1 billion off Samsara's market capitalization, resetting the technical picture for anyone holding the stock.

The $42.94 open is now the first level bulls need to reclaim, and until the stock recovers that ground, sellers retain control.

Investors tracking Samsara should keep an eye on the stock near the $39.31 close, where a hold marks stabilization and a break lower deepens the drawdown.

Sources

Mentioned: IOT

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IOT Samsara
Regular session
$42.27
+8.01% open $39.14
$43$41$39

An 8% intraday jump to $42.28 adds roughly $1.2 billion to Samsara's $16.1 billion market cap in a single session. Moves this size are rare for this name, so keep an eye on whether it holds into the close.

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IOT Samsara
Regular session
$40.30
-10.26% open $44.90
$43$42$40

A 10.3% slide to $40.30 the day after a Q2 FY27 earnings beat says holders are repricing the guidance. Keep an eye on whether the stock stabilizes above the open.

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IOT Samsara
Q2 2027
EPS
$0.20
est $0.16 +27.4%
Revenue
$508M
est $483M +5.2%

Samsara's growth is now concentrated in its largest accounts: million-dollar customers make up over $500 million of $2.12 billion ARR and are growing more than 50% year over year, the third straight quarter at that pace. Management raised full-year revenue guidance to as much as $2.047 billion with a 21% non-GAAP operating margin.

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