Needham & Company LLC Issues Pessimistic Forecast for SentinelOne (NYSE:S) Stock Price

SentinelOne (NYSE:S) had its target price dropped by investment analysts at Needham & Company LLC from $32.00 to $23.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 23.94% from the company’s previous close.

A number of other research firms have also issued reports on S. Robert W. Baird dropped their target price on SentinelOne from $30.00 to $28.00 and set an “outperform” rating on the stock in a report on Tuesday. Sanford C. Bernstein dropped their target price on SentinelOne from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Susquehanna boosted their target price on SentinelOne from $28.00 to $30.00 and gave the company a “positive” rating in a report on Thursday, December 5th. Oppenheimer initiated coverage on SentinelOne in a report on Wednesday, January 15th. They set an “outperform” rating and a $32.00 price objective on the stock. Finally, Jefferies Financial Group raised SentinelOne from a “hold” rating to a “buy” rating and upped their price objective for the stock from $27.00 to $30.00 in a report on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $26.59.

SentinelOne Trading Up 1.8 %

NYSE:S opened at $18.56 on Thursday. The firm has a market cap of $5.96 billion, a P/E ratio of -19.74 and a beta of 0.78. The stock’s 50 day simple moving average is $22.35 and its 200-day simple moving average is $24.02. SentinelOne has a 12-month low of $14.33 and a 12-month high of $29.29.

Insider Activity

In other news, CAO Robin Tomasello sold 6,378 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $19.55, for a total value of $124,689.90. Following the sale, the chief accounting officer now directly owns 230,685 shares in the company, valued at $4,509,891.75. This represents a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ric Smith sold 2,341 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $23.95, for a total value of $56,066.95. Following the completion of the sale, the insider now owns 529,118 shares in the company, valued at $12,672,376.10. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 253,818 shares of company stock worth $5,649,659 over the last three months. 5.60% of the stock is currently owned by corporate insiders.

Institutional Trading of SentinelOne

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Amalgamated Bank increased its stake in SentinelOne by 14.3% in the third quarter. Amalgamated Bank now owns 14,886 shares of the company’s stock valued at $356,000 after purchasing an additional 1,857 shares during the last quarter. Principal Financial Group Inc. increased its stake in SentinelOne by 6.4% in the third quarter. Principal Financial Group Inc. now owns 18,491 shares of the company’s stock valued at $442,000 after purchasing an additional 1,111 shares during the last quarter. Covestor Ltd increased its stake in SentinelOne by 649.3% in the third quarter. Covestor Ltd now owns 3,267 shares of the company’s stock valued at $78,000 after purchasing an additional 2,831 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in SentinelOne in the third quarter valued at $225,000. Finally, KBC Group NV increased its stake in SentinelOne by 778.0% in the third quarter. KBC Group NV now owns 65,455 shares of the company’s stock valued at $1,566,000 after purchasing an additional 58,000 shares during the last quarter. 90.87% of the stock is currently owned by hedge funds and other institutional investors.

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.