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Sensata (ST) Rolls Out INSIGHTS Platform to Tap IoT Market
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Sensata Technologies (ST - Free Report) recently rolled out Sensata INSIGHTS platform to tap the growing IoT market.
Sensata INSIGHTS platform offers customers comprehensive IoT solutions for supply chain including video telematics, logistics along with worksite asset monitoring. The platform includes proprietary hardware and software platforms that will make it easier to integrate artificial intelligence and machine learning to derive meaningful insights.
For supply-chain ecosystem, some of the solutions offered by the INSIGHTS platform address include issues like cargo and trailer management, warehouse and logistics, asset management and control worksite management.
Sensata has been reinforcing its IoT solutions portfolio to gain a larger share of the lucrative market. Per a Fortune Business Insights report, the global IoT market is expected to witness a CAGR of 26.4% between 2022 and 2029.
Headquartered in Attleboro, MA, Sensata develops, manufactures and sells innovative sensor-based solutions. It is considered as one of the leading suppliers of electrical protection and power management solutions.
Sensata’s earlier acquisitions of Xirgo Technologies, SmartWitness and Elastic M2M were a part of its efforts to strengthen its IoT portfolio.
In February 2022, Sensata acquired Elastic M2M to boost its cloud capabilities. This buyout strengthens Sensata’s position as a leading data insight provider by revving up its cloud and analytics capabilities, crucial for providing actionable sensor-based insights.
Acquired by Sensata for $400 million in 2021, Xirgo offers innovative wireless IoT communication devices for a wide range of applications across multiple markets.
These acquisitions are expected to significantly expand Sensata’s total addressable market for Smart & Connected product offerings’ space.
Sensata’s performance is benefiting from continued momentum in Sensing solutions business segment owing to latest electrification launches and revenues from acquisitions. It also plans to generate about $2 billion in revenues from electrification business by 2026.
Sensata Technologies Holding N.V. Price and Consensus
However, at present, the company is facing increased supply-chain issues and logistics expenses. A highly-leveraged balance sheet and increasing competition from low-cost suppliers are further concerns.
ST currently carries a Zacks Rank #4 (Sell). Shares of the company have lost 30.7% compared with the sub-industry’s decline of 16.5% in the past year.
The Zacks Consensus Estimate for Arista Networks’ 2022 earnings is pegged at $4.37 per share, up 0.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.5%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 12.7%. Shares of ANET have declined 14.6% in the past year.
The Zacks Consensus Estimate for Jabil’s 2023 earnings is pegged at $8.31 per share, rising 1.6% in the past 60 days. The long-term earnings growth rate is anticipated to be 12%.
Jabil’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 8.8%. Shares of JBL have declined 1.5% in the past year.
The Zacks Consensus Estimate for Asure Software’s 2022 earnings is pegged at 7 cents per share, rising 75% in the past 60 days. The long-term earnings growth rate is anticipated to be 23%.
Asure Software’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 83.3%. Shares of ASUR have soared 37% in the past year.
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Sensata (ST) Rolls Out INSIGHTS Platform to Tap IoT Market
Sensata Technologies (ST - Free Report) recently rolled out Sensata INSIGHTS platform to tap the growing IoT market.
Sensata INSIGHTS platform offers customers comprehensive IoT solutions for supply chain including video telematics, logistics along with worksite asset monitoring. The platform includes proprietary hardware and software platforms that will make it easier to integrate artificial intelligence and machine learning to derive meaningful insights.
For supply-chain ecosystem, some of the solutions offered by the INSIGHTS platform address include issues like cargo and trailer management, warehouse and logistics, asset management and control worksite management.
Sensata has been reinforcing its IoT solutions portfolio to gain a larger share of the lucrative market. Per a Fortune Business Insights report, the global IoT market is expected to witness a CAGR of 26.4% between 2022 and 2029.
Headquartered in Attleboro, MA, Sensata develops, manufactures and sells innovative sensor-based solutions. It is considered as one of the leading suppliers of electrical protection and power management solutions.
Sensata’s earlier acquisitions of Xirgo Technologies, SmartWitness and Elastic M2M were a part of its efforts to strengthen its IoT portfolio.
In February 2022, Sensata acquired Elastic M2M to boost its cloud capabilities. This buyout strengthens Sensata’s position as a leading data insight provider by revving up its cloud and analytics capabilities, crucial for providing actionable sensor-based insights.
Acquired by Sensata for $400 million in 2021, Xirgo offers innovative wireless IoT communication devices for a wide range of applications across multiple markets.
These acquisitions are expected to significantly expand Sensata’s total addressable market for Smart & Connected product offerings’ space.
Sensata’s performance is benefiting from continued momentum in Sensing solutions business segment owing to latest electrification launches and revenues from acquisitions. It also plans to generate about $2 billion in revenues from electrification business by 2026.
Sensata Technologies Holding N.V. Price and Consensus
Sensata Technologies Holding N.V. price-consensus-chart | Sensata Technologies Holding N.V. Quote
However, at present, the company is facing increased supply-chain issues and logistics expenses. A highly-leveraged balance sheet and increasing competition from low-cost suppliers are further concerns.
ST currently carries a Zacks Rank #4 (Sell). Shares of the company have lost 30.7% compared with the sub-industry’s decline of 16.5% in the past year.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the broader technology space are Arista Networks (ANET - Free Report) , Jabil (JBL - Free Report) and Asure Software (ASUR - Free Report) , each presently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Arista Networks’ 2022 earnings is pegged at $4.37 per share, up 0.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.5%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 12.7%. Shares of ANET have declined 14.6% in the past year.
The Zacks Consensus Estimate for Jabil’s 2023 earnings is pegged at $8.31 per share, rising 1.6% in the past 60 days. The long-term earnings growth rate is anticipated to be 12%.
Jabil’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 8.8%. Shares of JBL have declined 1.5% in the past year.
The Zacks Consensus Estimate for Asure Software’s 2022 earnings is pegged at 7 cents per share, rising 75% in the past 60 days. The long-term earnings growth rate is anticipated to be 23%.
Asure Software’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 83.3%. Shares of ASUR have soared 37% in the past year.