Needham & Company LLC Has Lowered Expectations for SentinelOne (NYSE:S) Stock Price

SentinelOne (NYSE:S) had its price objective cut by investment analysts at Needham & Company LLC from $23.00 to $21.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 23.89% from the company’s previous close.

A number of other research firms have also recently commented on S. Piper Sandler restated an “overweight” rating and issued a $20.00 price target on shares of SentinelOne in a report on Friday. Wells Fargo & Company upped their target price on shares of SentinelOne from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday, August 29th. UBS Group boosted their price target on SentinelOne from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, August 29th. Robert W. Baird upped their target price on SentinelOne from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Finally, Scotiabank increased their price target on SentinelOne from $18.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, SentinelOne currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.11.

SentinelOne Stock Performance

Shares of NYSE S opened at $16.95 on Friday. SentinelOne has a fifty-two week low of $15.17 and a fifty-two week high of $26.64. The company has a market cap of $5.65 billion, a price-to-earnings ratio of -12.84 and a beta of 0.76. The business’s 50 day moving average price is $17.00 and its 200-day moving average price is $17.71.

SentinelOne (NYSE:S) last announced its quarterly earnings data on Thursday, December 4th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. SentinelOne had a negative return on equity of 16.24% and a negative net margin of 47.32%.The company had revenue of $258.91 million for the quarter, compared to the consensus estimate of $256.19 million. During the same quarter in the prior year, the company posted ($0.25) EPS. SentinelOne’s quarterly revenue was up 22.9% on a year-over-year basis. Sell-side analysts predict that SentinelOne will post -0.76 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Barbara A. Larson sold 54,583 shares of the firm’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $18.13, for a total value of $989,589.79. Following the sale, the chief financial officer directly owned 549,498 shares in the company, valued at approximately $9,962,398.74. This trade represents a 9.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Keenan Michael Conder sold 11,098 shares of SentinelOne stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $18.69, for a total transaction of $207,421.62. Following the completion of the transaction, the insider directly owned 579,407 shares in the company, valued at approximately $10,829,116.83. The trade was a 1.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 481,090 shares of company stock valued at $8,637,206 in the last three months. 4.33% of the stock is currently owned by insiders.

Institutional Trading of SentinelOne

A number of institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new position in SentinelOne during the 2nd quarter worth $65,371,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in SentinelOne by 131.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,374,714 shares of the company’s stock worth $79,532,000 after acquiring an additional 2,483,136 shares in the last quarter. Cooper Creek Partners Management LLC purchased a new stake in shares of SentinelOne during the third quarter worth about $41,416,000. Vanguard Group Inc. increased its holdings in shares of SentinelOne by 6.5% during the third quarter. Vanguard Group Inc. now owns 36,012,413 shares of the company’s stock valued at $634,179,000 after acquiring an additional 2,191,321 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of SentinelOne by 92.6% in the 2nd quarter. AQR Capital Management LLC now owns 4,268,733 shares of the company’s stock valued at $77,264,000 after purchasing an additional 2,051,980 shares during the last quarter. Institutional investors and hedge funds own 90.87% of the company’s stock.

About SentinelOne

SentinelOne, Inc operates as a cybersecurity provider in the United States and internationally. Its Singularity Platform delivers an artificial intelligence-powered autonomous threat prevention, detection, and response capabilities across an organization's endpoints, cloud workloads, and identify credentials, which enables seamless and autonomous protection against a spectrum of cyber threats.