Samsara gains after lifting annual revenue forecast

Samsara (Pre-Reincorporation)

06/09/2024 10:02

** Shares of software firm Samsara  IOT.N  rise 3.6% to
$40.15 in premarket
    ** Company sees FY25 revenue of $1.22 bln - $1.23 bln, above
average estimate of $1.21 bln - LSEG data 
    ** Forecasts annual non-GAAP net income per share of $0.16 -
$0.18 versus LSEG estimates of $0.13
    ** Reports Q2 adj. earnings of $0.05 per share, slightly
above analysts' expectations $0.01/shr
    ** Quarterly revenue rose 36.9% YoY to $300.20 mln, higher
than rev of $219.3 mln a year back
    ** Ten of 16 brokerages rate the stock "buy" or higher and
six "hold"; their median PT is $44.50
    ** Up to last close, IOT stock had risen 16.08% YTD

 (Reporting by Nikhil Sharma in Bengaluru)
 ((Nikhil.Sharma@thomsonreuters.com;))