SentinelOne, a leading cybersecurity provider, has received a target price boost from Needham & Company LLC, according to a research report issued on Monday. The target price has been raised from $25.00 to $29.00, indicating a potential upside of 17.15% from the stock’s previous close. Needham & Company LLC has maintained a “buy” rating on the stock.
Several other equities research analysts have also provided their insights on SentinelOne. DA Davidson raised their target price to $18.50 and gave the company a “neutral” rating. Scotiabank lowered their target price to $18.00 and assigned a “sector perform” rating. BTIG Research lowered their price target to $23.00 and maintained a “buy” rating. Robert W. Baird initiated coverage with an “outperform” rating and a $25.00 price target. Susquehanna decreased their price target to $22.00 and gave a “positive” rating.
SentinelOne recently reported its earnings results for the quarter ending May 30th. The company posted an EPS of ($0.23), missing the consensus estimate of ($0.05) by ($0.18). The negative return on equity was 16.48%, and the negative net margin stood at 44.79%. However, the quarterly revenue of $186.36 million exceeded analysts’ expectations of $181.11 million. The company’s revenue was up 39.7% compared to the same quarter last year. Analysts anticipate that SentinelOne will post a -0.73 EPS for the current fiscal year.
In terms of insider trading, CEO Tomer Weingarten sold 60,864 shares of SentinelOne stock on August 12th, with an average price of $21.47 per share. Following the transaction, Weingarten now holds 1,099,356 shares valued at $23,603,173.32. Insider Ric Smith also sold 14,583 shares on July 25th at an average price of $23.54 per share. Smith now owns 639,834 shares valued at $15,061,692.36. Insiders have sold a total of 610,851 shares, amounting to $12,036,747, in the last 90 days. Insiders currently own 5.60% of the company’s stock.
Institutional investors and hedge funds have made recent changes to their positions in SentinelOne. Newbridge Financial Services Group Inc. acquired a new stake in the company, while Blue Trust Inc. and Allspring Global Investments Holdings LLC increased their holdings. Sugarloaf Wealth Management LLC also grew its stake, and Unique Wealth Strategies LLC purchased shares. Hedge funds and other institutional investors now own 90.87% of the company’s stock.
SentinelOne operates as a cybersecurity provider, offering an artificial intelligence-powered autonomous threat prevention, detection, and response platform. Its Singularity Platform provides seamless and autonomous protection against a range of cyber threats across an organization’s endpoints, cloud workloads, and identity credentials.