Samsara (IOT) Climbs 17.4% on Earnings Blowout, Higher Growth Expectations

We recently published Monstrous Gains: 10 Stocks Leaving Wall Street in the Dust. Samsara Inc. (NYSE:IOT) is one of the best performers on Friday.

Samsara rallied for a third day on Friday, surging 17.44 percent to close at $42.09 apiece after an impressive earnings performance and raising its growth outlook for the full-year period.

In its financial statement, Samsara Inc. (NYSE:IOT) said it narrowed its net loss by 66 percent to $16.8 million from $49.61 million in the same period last year. Revenues grew by 30.49 percent to $391.48 million from $300 million year-on-year.

“Samsara had another strong quarter of durable and efficient growth,” said CEO and co-founder Sanjit Biswas.

“As the trusted partner to some of the world’s largest and most complex operations, we’re seeing firsthand how the rise of the AI-driven economy is amplifying demand for our platform. We are innovating at an unprecedented pace and are excited to deliver even greater impact for our customers who keep the global economy running,” he added.

Following the results, Samsara Inc. (NYSE:IOT) raised its revenue growth outlook for the full-year period to $1.574 billion to $1.578 billion, from the $1.547 billion to $1.555 billion as expected previously. The updated figures would mark a 26-percent growth year-on-year.

While we acknowledge the potential of IOT  as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.