Samsara gains on upbeat forecast, brokerages raise PT

Samsara (Pre-Reincorporation)

01/12/2023 13:05

** Shares of software company Samsara  IOT.N  rise 13.7% to
$31.32 premarket 
    ** Co forecasts FY24 revenue above Wall Street estimates and
beats expectations for Q3
    ** As many as seven brokerages raise PT on stock after
upbeat results 
    ** J.P.Morgan says co' has one of the highest customer
growth rates among SaaS peers, opportunity to grow monthly
subscription fees; raises PT on attractive growth outlook
    ** Brokerage Piper Sandler raises PT to $30 
    ** Of 13 analysts covering stock, seven rate it "buy" or
higher and six rate "hold"; median PT stands at $31.5 - LSEG
data 
    ** Stock has more than doubled this year until last close

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))