Why SentinelOne Stock Is Dipping After Palo Alto Network Earnings

SentinelOne, Inc. S shares are trading lower Wednesday as shares of cybersecurity-related stocks dip in sympathy with Palo Alto Networks, Inc. PANW, which fell after the company issued weak guidance with its second-quarter financial results.

The Details:

Palo Alto's fiscal second-quarter revenue increased 19% year-over-year to $1.98 billion, and the company reported quarterly earnings of $1.46 per share, which beat analyst estimates of $1.30 per share.

However, Palo Alto expects third-quarter revenue to be in a range of $1.95 billion to $1.98 billion, versus estimates of $2.04 billion. The company sees third-quarter adjusted earnings to be between $1.24 and $1.26 per share, versus estimates of $1.29 per share.

SentinelOne saw a boost last week after B of A Securities analyst Tal Liani upgraded the stock from Neutral to Buy and raised the price target from $26.50 to $35. 

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Will S Stock Go Up:

When trying to assess whether or not SentinelOne will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $28.18 on SentinelOne. The Street high target is currently at $35.0 and the Street low target is $20.0. Of all the analysts covering SentinelOne, 8 have positive ratings, 3 have neutral ratings and no one has negative ratings.

In the last month, 3 analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering SentinelOne have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. SentinelOne is 63.26% up year-to-date. The average analyst price target suggests the stock could have further upside ahead.

For a broad overview of everything you need to know about SentinelOne, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

S Price Action: According to Benzinga Pro, SentinelOne shares are down 11.5% at $25.79 at the time of publication.

Image: Pete Linforth from Pixabay