Samsara, Inc. (IOT) saw its stock price surge 5.21% during Friday's intraday trading session, driven by a wave of analyst optimism and better-than-expected quarterly results.
Multiple Wall Street firms, including BMO, RBC, Wells Fargo, and BofA Global Research, raised their price targets for Samsara, citing confidence in the company's growth trajectory. BofA Global Research increased its target to $55 from $53, while Wells Fargo lifted its target to $52 from $50. These upgrades followed Samsara's strong Q3 earnings report, where the company posted adjusted EPS of 16 cents (vs. estimates of 12 cents) and revenue of $416 million (vs. estimates of $398.56 million).
The upbeat earnings and bullish analyst sentiment fueled investor enthusiasm, propelling the stock higher. Samsara also provided optimistic guidance for Q4, expecting revenue between $421 million and $423 million, surpassing consensus estimates.
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