These Analysts Increase Their Forecasts On SentinelOne Following Strong Q2 Results

SentinelOne S reported better-than-expected second-quarter financial results and issued third-quarter revenue guidance above estimates.

SentinelOne said second-quarter revenue increased 46% year-over-year to $149.4 million, which beat the consensus estimate of $140.98 million. The company reported a quarterly loss of 8 cents per share, which beat analyst estimates for a loss of 14 cents per share.

SentinelOne said it expected third-quarter revenue of $156 million versus estimates of $154.2 million. The company also raised its full-year revenue guidance from a range of $590 million to $600 million to $605 million versus estimates of $594.77 million.

SentinelOne shares rose 3.4% to $17.19 in today’s pre-market trading session.

These analysts made changes to their price targets on SentinelOne following earnings announcement.

• Needham increased the price target on SentinelOne from $19 to $23. Needham analyst Alex Henderson maintained a Buy rating.
• Raymond James boosted the price target on SentinelOne from $20 to $22. Raymond James analyst Adam Tindle maintained a Strong Buy rating.
• JMP Securities analyst Trevor Walsh, meanwhile, reiterated SentinelOne with a Market Outperform and maintained a $22 price target.

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