Internet of Things company Samsara (NYSE:IOT) beat Wall Street’s revenue expectations in Q3 CY2024, with sales up 35.6% year on year to $322 million. The company expects next quarter’s revenue to be around $335 million, close to analysts’ estimates. Its non-GAAP profit of $0.07 per share was 74.3% above analysts’ consensus estimates.
Wall Street experienced subdued trading on Thursday morning, with major indices remaining near the flatline as investors awaited further confirmation of potential interest rate cuts from the upcoming November jobs report.
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What a time it’s been for Samsara. In the past six months alone, the company’s stock price has increased by a massive 48.6%, reaching $56.19 per share. This was partly due to its solid quarterly results, and the run-up might have investors contemplating their next move.
Discover why Samsara (IOT) and Digi International (DGII) are top IoT stocks for 2025, with strong growth, innovative solutions, and long-term market potential.
