SentinelOne Stock Is In The Spotlight Today: What's Going On?

Shares of cybersecurity firm SentinelOne Inc S are rising Wednesday after the company reported better-than-expected financial results.

• Q4 Revenue: $126.1 million beat estimates of $124.66 million
• Q4 EPS: Loss of 13 cents beat estimates for a loss of 16 cents

SentinelOne said quarterly revenue climbed 92% year-over-year and annualized recurring revenue jumped 88%.

The cloud-based cybersecurity company's total customer count increased approximately 50% and crossed the 10,000 mark as of the end of January.

SentinelOne ended the quarter with cash and equivalents of $1.2 billion. 

"Our fourth quarter results exceeded expectations across all key metrics, indicating strength of our competitive position and unit economics. Evident in our fiscal year 2024 outlook, we expect to deliver compelling top line growth with consistent margin improvement," said Dave Bernhardt, CFO of SentinelOne.

Outlook: SentinelOne sees first-quarter revenue of approximately $137 million versus estimates of $136.85 million. The company expects full-year 2024 revenue to be in the range of $631 million to $640 million versus estimates of $648.66 million. 

Analyst Changes:

• Needham analyst Alex Henderson reiterated SentinelOne with a Buy and a $19 price target.
• JMP Securities analyst Trevor Walsh maintained SentinelOne with a Market Outperform and lowered the price target from $36 to $26.
• Wells Fargo analyst Andrew Nowinski maintained SentinelOne with an Equal-Weight and lowered the price target from $18 to $16.
• Guggenheim analyst Raymond McDonough reiterated SentinelOne with a Buy and an $18 price target.

Related Link: These Analysts Slash Price Targets On SentinelOne Following Weak Revenue Forecast

S Price Action: SentinelOne shares were up 9.81% at $15.89 at the time of publication, according to Benzinga Pro.

Photo: B_A from Pixabay.