What's Going On With SentinelOne Shares Wednesday?

Author: Dylan Berman | August 28, 2024 12:56pm

SentinelOne, Inc. (NYSE:S) stock is trending on Wednesday. The company reported 2025 fiscal year second quarter earnings on Tuesday after the market closed.

The Details: The company reported a loss of 22 cents per share, in line with analysts’ consensus estimate.

Revenue: The company reported revenue of $198.90 million beating analysts estimates of $197.45 million. This represents a 33.11% increase in sales compared to the same period last year, where the company reported sales of $149.42 million.

• Annualized Recurring Revenue (ARR): The company reported ARR of $806 million, a 32% increase compared to the same quarter last year. In addition, the company reported that customers with ARR of $100,000 or more grew 24% year-over-year.

Guidance: The company issued guidance for the third quarter and the 2025 fiscal year. For the third quarter, SentinelOne sees revenue of $209.5 million versus analysts estimate of $197.44 million and for the fiscal year SentinelOne sees revenue of $815 million versus analysts estimate of $813.03 million.

Analyst Changes: Following the earnings report, multiple analysts issued price target adjustments.

• Needham analyst Alex Henderson reiterated a Buy rating on SentinelOne and maintained a $29 price target.
• Bernstein analyst Peter Weed maintained a Outperform rating on SentinelOne and lowered the price target from $37 to $32.
• WestPark Capital analyst Casey Ryan reiterated a Buy rating on SentinelOne and maintained a $34 price target.
• Morgan Stanley analyst Hamza Fodderwala maintained a Overweight rating on SentinelOne and raised the price target from $27 to $29.
• Loop Capital analyst Yun Kim maintained a Buy rating on SentinelOne and raised the price target from $25 to $30.
• Wells Fargo analyst Andrew Nowinski maintained a Overweight rating on SentinelOne and raised the price target from $29 to $30.
• Scotiabank analyst Patrick Colville maintained a Sector Perform rating on SentinelOne and raised the price target from $18 to $25.
• JMP Securities analyst Trevor Walsh reiterated a Market Outperform on SentinelOne (NYSE:S) and maintained a $33 price target.
• Barclays analyst Saket Kalia maintained a Equal-Weight rating on SentinelOne and raised the price target from $26 to $28.
• DA Davidson analyst Rudy Kessinger maintained a Neutral rating on SentinelOne and raised the price target from $18.5 to $23.

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S Price Action: As of Wednesday morning, SentinelOne shares are trading 2.40% lower at $24.16, according to data from Benzinga Pro.

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