SentinelOne (NYSE:S) Earns “Buy” Rating from Needham & Company LLC

SentinelOne (NYSE:S)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a report released on Thursday,Benzinga reports. They presently have a $32.00 price target on the stock. Needham & Company LLC’s price objective indicates a potential upside of 24.13% from the stock’s current price.

A number of other research firms have also recently issued reports on S. Wells Fargo & Company lifted their target price on shares of SentinelOne from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Westpark Capital reiterated a “buy” rating and issued a $34.00 price objective on shares of SentinelOne in a research report on Tuesday. Sanford C. Bernstein decreased their target price on SentinelOne from $37.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, August 28th. Loop Capital raised their target price on SentinelOne from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $30.00 price target on shares of SentinelOne in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $29.42.

SentinelOne Price Performance

SentinelOne stock opened at $25.78 on Thursday. The firm has a market capitalization of $8.18 billion, a P/E ratio of -27.43 and a beta of 0.67. The stock has a fifty day moving average price of $26.31 and a two-hundred day moving average price of $23.15. SentinelOne has a 52-week low of $14.33 and a 52-week high of $30.76.

SentinelOne (NYSE:S) last announced its earnings results on Wednesday, December 4th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). SentinelOne had a negative return on equity of 15.42% and a negative net margin of 38.91%. The firm had revenue of $210.60 million for the quarter, compared to analyst estimates of $209.73 million. During the same quarter last year, the business earned ($0.21) EPS. The company’s revenue for the quarter was up 28.3% compared to the same quarter last year. On average, equities research analysts predict that SentinelOne will post -0.73 EPS for the current fiscal year.

Insider Activity

In related news, CEO Tomer Weingarten sold 70,655 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $27.63, for a total value of $1,952,197.65. Following the completion of the transaction, the chief executive officer now directly owns 1,019,541 shares in the company, valued at approximately $28,169,917.83. The trade was a 6.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David J. Bernhardt sold 11,222 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $21.40, for a total transaction of $240,150.80. Following the sale, the chief financial officer now owns 477,781 shares in the company, valued at $10,224,513.40. This trade represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 351,754 shares of company stock valued at $8,532,505 in the last ninety days. 5.60% of the stock is owned by insiders.

Institutional Investors Weigh In On SentinelOne

A number of hedge funds and other institutional investors have recently made changes to their positions in S. Sylebra Capital LLC raised its position in SentinelOne by 33.7% in the 3rd quarter. Sylebra Capital LLC now owns 9,048,954 shares of the company’s stock valued at $216,451,000 after buying an additional 2,282,980 shares during the last quarter. Eminence Capital LP grew its stake in shares of SentinelOne by 24.2% during the 2nd quarter. Eminence Capital LP now owns 6,854,236 shares of the company’s stock worth $144,282,000 after acquiring an additional 1,337,145 shares in the last quarter. State Street Corp raised its holdings in shares of SentinelOne by 11.3% in the third quarter. State Street Corp now owns 5,072,097 shares of the company’s stock valued at $121,325,000 after purchasing an additional 516,244 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of SentinelOne by 8.6% in the third quarter. Geode Capital Management LLC now owns 4,485,596 shares of the company’s stock worth $107,326,000 after purchasing an additional 355,944 shares in the last quarter. Finally, Atreides Management LP boosted its holdings in SentinelOne by 137.3% during the third quarter. Atreides Management LP now owns 3,802,904 shares of the company’s stock worth $90,965,000 after purchasing an additional 2,200,594 shares during the last quarter. 90.87% of the stock is currently owned by institutional investors and hedge funds.

SentinelOne Company Profile

SentinelOne, Inc operates as a cybersecurity provider in the United States and internationally. Its Singularity Platform delivers an artificial intelligence-powered autonomous threat prevention, detection, and response capabilities across an organization's endpoints, cloud workloads, and identify credentials, which enables seamless and autonomous protection against a spectrum of cyber threats.