Follow SentinelOne to never miss an important update.
SentinelOne expanded its Wayfinder tool to cover the three largest cloud providers: Amazon Web Services, Microsoft Azure, and Google Cloud. This tool helps security teams search for and identify hidden hackers or vulnerabilities across their entire digital setup from one place.
This is a useful step for the company's goal of becoming a broader security platform. Most large businesses use more than one cloud provider, and they prefer tools that can protect everything at once. By making its software work across all major clouds, SentinelOne makes its product more necessary for the large enterprise customers that drive its growth.
Source: Business Wire
Bernstein lowered its rating on the stock to Market Perform, which is essentially a neutral view. The firm set a price target of $25, while the average target across all analysts who follow the company sits at $23.
A downgrade from a major firm like Bernstein is a signal that analysts see less room for the stock to grow from here. This comes after the stock rose nearly 20 percent earlier in the week, suggesting the company's recent run may have already priced in much of its near-term growth potential.
Source: Bernstein
Morgan Stanley raised its price target for SentinelOne from $17 to $23 but kept an equal-weight rating, which is essentially a recommendation to hold the stock rather than buy more. This move brings the firm's target in line with where the stock is currently trading. While the higher target reflects the company's recent progress toward profitability, the neutral rating suggests analysts want to see more consistent growth before becoming more optimistic. The average target across all Wall Street firms now sits at $23.
Source: Morgan Stanley
Canaccord Genuity raised its target price for the stock from $18 to $25 following the latest quarterly results. The firm noted that the company is successfully winning larger enterprise customers while also improving its profit margins, which shows the business is becoming more efficient as it scales up.
This move brings the firm's target above the average analyst estimate of $23. It signals confidence that the company can continue to take market share in the competitive cybersecurity space by using its automated AI platform to replace older, more manual security tools.
Source: Canaccord Genuity
Susquehanna raised its price target for the cybersecurity firm to $28, up from $20 previously. The firm kept its positive rating, which means it expects the stock to perform better than the broader market. This new target is higher than the average analyst target of $23. While price targets are just estimates of where a stock might trade in the future, this move suggests growing confidence in the company's ability to win more business. The stock currently trades around $19, so this target implies the firm sees significant room for the price to rise as the company continues to grow its recurring revenue.
Source: Susquehanna
Management has built a reliable habit of setting reachable targets and then clearing them. Seven straight beats show they have a firm grip on their costs and a clear view of how fast they are winning new business.
| Expectation | |
|---|---|
| EPS | $0.09 |
| Revenue | $310M |