SentinelOne (NYSE:S) Price Target Raised to $29.00 at Morgan Stanley

SentinelOne (NYSE:S) had its price objective increased by equities researchers at Morgan Stanley from $27.00 to $29.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 17.15% from the company’s current price.

A number of other research firms have also issued reports on S. Robert W. Baird raised their price target on shares of SentinelOne from $25.00 to $29.00 and gave the stock an “outperform” rating in a research report on Monday. Scotiabank lowered their price target on shares of SentinelOne from $25.00 to $18.00 and set a “sector perform” rating on the stock in a report on Monday, June 3rd. Citigroup reduced their price objective on SentinelOne from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, June 5th. Canaccord Genuity Group upgraded SentinelOne from a “hold” rating to a “buy” rating and reduced their price target for the company from $28.00 to $23.00 in a research report on Tuesday, June 4th. Finally, Sanford C. Bernstein cut their target price on shares of SentinelOne from $37.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.22.

SentinelOne Price Performance

Shares of S stock opened at $24.76 on Wednesday. The stock’s fifty day moving average price is $21.58 and its 200 day moving average price is $22.37. SentinelOne has a 1-year low of $14.33 and a 1-year high of $30.76. The company has a market cap of $7.75 billion, a price-to-earnings ratio of -24.27 and a beta of 0.66.

SentinelOne (NYSE:S) last issued its quarterly earnings results on Tuesday, August 27th. The company reported $0.01 earnings per share (EPS) for the quarter. SentinelOne had a negative net margin of 44.79% and a negative return on equity of 16.48%. The business had revenue of $198.94 million for the quarter, compared to analyst estimates of $197.32 million. During the same quarter in the prior year, the business posted ($0.26) EPS. SentinelOne’s revenue for the quarter was up 33.1% compared to the same quarter last year. As a group, equities research analysts anticipate that SentinelOne will post -0.73 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Ric Smith sold 24,467 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $17.30, for a total value of $423,279.10. Following the transaction, the insider now directly owns 666,419 shares in the company, valued at $11,529,048.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Ric Smith sold 24,467 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $17.30, for a total transaction of $423,279.10. Following the completion of the sale, the insider now directly owns 666,419 shares of the company’s stock, valued at approximately $11,529,048.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tomer Weingarten sold 60,864 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $21.83, for a total transaction of $1,328,661.12. Following the completion of the transaction, the chief executive officer now directly owns 1,119,312 shares in the company, valued at approximately $24,434,580.96. The disclosure for this sale can be found here. Insiders have sold 610,851 shares of company stock valued at $12,036,747 over the last ninety days. Company insiders own 5.60% of the company’s stock.

Institutional Trading of SentinelOne

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in SentinelOne by 7.2% during the first quarter. Vanguard Group Inc. now owns 25,158,987 shares of the company’s stock worth $586,456,000 after purchasing an additional 1,694,407 shares during the period. First Trust Advisors LP increased its stake in SentinelOne by 1.6% during the 4th quarter. First Trust Advisors LP now owns 10,373,253 shares of the company’s stock worth $284,642,000 after buying an additional 162,846 shares during the period. Norges Bank purchased a new stake in SentinelOne during the 4th quarter worth approximately $228,872,000. Eminence Capital LP lifted its holdings in SentinelOne by 24.2% during the 2nd quarter. Eminence Capital LP now owns 6,854,236 shares of the company’s stock worth $144,282,000 after buying an additional 1,337,145 shares in the last quarter. Finally, Sylebra Capital LLC boosted its position in SentinelOne by 10.5% in the 2nd quarter. Sylebra Capital LLC now owns 6,765,974 shares of the company’s stock valued at $142,424,000 after buying an additional 643,097 shares during the period. 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.