Analyst Shaul Eyal of TD Cowen reiterated a Buy rating on SentinelOne (S – Research Report), with a price target of $35.00.
Shaul Eyal has given his Buy rating due to a combination of factors which indicate SentinelOne’s strong performance and promising outlook. Eyal highlights the company’s robust fourth-quarter results, including a 39% year-over-year growth in Annual Recurring Revenue (ARR) and a 38% increase in revenue, both surpassing consensus estimates. Additionally, SentinelOne’s improvement in operating margin by 26 points demonstrates its effective cost management and progression towards profitability. The company’s forward-looking guidance aligns with market expectations, signaling steady growth momentum.
Eyal also points to SentinelOne’s strategic advancements and product developments as reasons for the positive assessment. The company’s record addition of high-value customers, with a significant year-over-year growth in customers generating over $100K in ARR, reflects its expanding market presence. The launch of new platform solutions and the integration of recent acquisitions, such as PingSafe, enhance SentinelOne’s competitive edge. Moreover, the company’s partnerships, like the one with Bell Canada, are set to bolster its service offerings and customer reach. All these factors contribute to Eyal’s Buy rating, underpinning SentinelOne’s potential for sustained growth and shareholder value creation.
In another report released today, JMP Securities also maintained a Buy rating on the stock with a $33.00 price target.
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Based on the recent corporate insider activity of 106 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of S in relation to earlier this year.
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SentinelOne (S) Company Description:
SentinelOne Inc is an autonomous cybersecurity platform. The company’s cybersecurity solutions encompass AI-powered prevention, detection, response, and hunting across endpoints, containers, cloud workloads, and IoT devices in a single autonomous XDR platform.
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