SentinelOne (S) has received a new Buy rating, initiated by Robert W. Baird analyst, Shrenik Kothari.
Shrenik Kothari has given his Buy rating due to a combination of factors including SentinelOne’s robust year-over-year growth, the company’s strong potential for continued expansion and profitability, and its advanced AI-driven cybersecurity capabilities. SentinelOne’s growth trajectory remains strong, with over 30% year-over-year growth, and the platform is contributing significantly to bookings. Additionally, the company’s focus on cloud and data services is expected to drive further cross-selling opportunities, enhancing its growth prospects. Kothari notes the company’s competitive edge in AI-driven security and threat intelligence, which is reflected in the substantial growth of large enterprise customers and the expansion of high-value contracts.
Furthermore, SentinelOne’s strategic diversification into adjacent cybersecurity markets such as cloud, data, identity, and AI signifies a substantial cross-selling opportunity. The company’s AI and threat intelligence capabilities position it favorably against competitors, and its growing enterprise footprint, particularly with large enterprises, underscores its market penetration and scalability. Kothari also highlights the strength of the leadership under co-founder and CEO Tomer Weingarten, which instills confidence in the company’s direction. Lastly, SentinelOne’s path to profitability is underscored by expected improvements in operating margins, with a strategic aim for non-GAAP operating profit by the fourth quarter, reinforcing the rationale for the Outperform rating and a $25 price target.
In another report released on July 12, Needham also maintained a Buy rating on the stock with a $25.00 price target.
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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.