Samsara's stock rockets 25% after stellar Q3 earnings. Now what?

2023 has been a tough year for some companies and a great year for others. Capital-intensive firms have struggled amid the soaring cost of capital. On the other hand, companies that utilize AI to make other companies' operations more efficient and save money have thrived. Samsara ($IOT) belongs in this category.

Samsara stock rocketed over 25% on Friday and reached all-time highs after the AI company delivered Q3 earnings that exceeded analyst estimates and raised its full-year outlook.

Samsara is a unique company that operates in a massive market. It modernizes and digitizes the operations of traditionally non-tech companies, helping them save hundreds of thousands or millions per year. Here’s what you need to know about this under-the-radar AI play.