SentinelOne Stocks Soars On Q3 Earnings Beat: The Details

SentinelOne, Inc. S shares are trading higher Tuesday after the company reported better-than-expected third-quarter financial results. 

The Details:

Sentinel One reported third-quarter revenue of $164.2 million, beating the analyst consensus estimate of $156.09 million and representing an increase of 42% compared to last year.

The company also reported an adjusted loss of 3 cents per share, beating the analyst consensus estimate of a loss of 8 cents per share.

“Our third quarter performance exceeded our top and bottom line expectations, delivering industry-leading growth and margin improvement,” said Tomer Weingarten, CEO of SentinelOne. 

“Our market-leading, AI-based security across endpoint, cloud, and data continues to differentiate SentinelOne as a true innovator.”

SentinelOne expects fourth quarter revenue of $169 million (Estimate $166.46M). The company raised the full-year 2024 revenue outlook from $605 million to $616 million. (Estimate $605.66 million)

Needham analyst Alex Henderson reiterated SentinelOne with a Buy and maintained a $23 price target earlier on Tuesday.

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S Price Action: According to Benzinga Pro, SentinelOne shares are up by 10% at $22.01 in after-hours trading.

Image: Garik Barseghyan from Pixabay