Canaccord Genuity Group Upgrades SentinelOne (NYSE:S) to Buy

SentinelOne (NYSE:S) was upgraded by Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Marketbeat reports. The brokerage currently has a $23.00 price objective on the stock, down from their previous price objective of $28.00. Canaccord Genuity Group’s price objective would suggest a potential upside of 32.60% from the company’s current price.

A number of other brokerages have also recently issued reports on S. Barclays dropped their price objective on SentinelOne from $27.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Friday, May 31st. BTIG Research cut their price target on shares of SentinelOne from $30.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Susquehanna decreased their price objective on shares of SentinelOne from $35.00 to $22.00 and set a “positive” rating for the company in a research report on Friday, May 31st. Scotiabank dropped their target price on shares of SentinelOne from $25.00 to $18.00 and set a “sector perform” rating on the stock in a report on Monday. Finally, Needham & Company LLC reduced their price target on SentinelOne from $31.00 to $25.00 and set a “buy” rating for the company in a report on Monday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, SentinelOne currently has an average rating of “Moderate Buy” and a consensus price target of $25.08.

SentinelOne Stock Performance

Shares of S opened at $17.35 on Tuesday. The stock has a 50 day simple moving average of $21.40 and a 200 day simple moving average of $23.90. SentinelOne has a 52-week low of $12.43 and a 52-week high of $30.76. The firm has a market capitalization of $5.38 billion, a PE ratio of -17.00 and a beta of 0.59.

SentinelOne (NYSE:S) last posted its quarterly earnings data on Thursday, May 30th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.18). The firm had revenue of $186.36 million for the quarter, compared to the consensus estimate of $181.11 million. SentinelOne had a negative return on equity of 16.48% and a negative net margin of 44.79%. The firm’s quarterly revenue was up 39.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.35) earnings per share. Equities research analysts predict that SentinelOne will post -0.76 EPS for the current fiscal year.

Insider Activity at SentinelOne

In related news, CEO Tomer Weingarten sold 91,914 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $21.14, for a total transaction of $1,943,061.96. Following the completion of the transaction, the chief executive officer now directly owns 1,183,043 shares in the company, valued at approximately $25,009,529.02. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Tomer Weingarten sold 91,914 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $21.14, for a total transaction of $1,943,061.96. Following the sale, the chief executive officer now owns 1,183,043 shares in the company, valued at approximately $25,009,529.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David J. Bernhardt sold 11,221 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $22.76, for a total value of $255,389.96. Following the completion of the transaction, the chief financial officer now owns 535,011 shares of the company’s stock, valued at $12,176,850.36. The disclosure for this sale can be found here. Insiders have sold 284,928 shares of company stock valued at $6,205,007 over the last ninety days. 5.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. acquired a new stake in SentinelOne during the 4th quarter valued at approximately $30,000. Montag A & Associates Inc. raised its stake in SentinelOne by 143.0% during the third quarter. Montag A & Associates Inc. now owns 2,039 shares of the company’s stock worth $34,000 after buying an additional 1,200 shares during the last quarter. Acadian Asset Management LLC acquired a new position in SentinelOne in the third quarter valued at $38,000. Cary Street Partners Investment Advisory LLC bought a new stake in SentinelOne during the third quarter valued at $55,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in SentinelOne during the 1st quarter worth about $80,000. 90.87% of the stock is owned by institutional investors.

About SentinelOne

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.