Bank of America has decreased its price target for SentinelOne (NYSE:S) from $19.00 to $18.00, reflecting a neutral outlook on the stock. This adjustment was detailed in a research note published on Friday morning, according to Benzinga.
Several other equities research analysts have also recently evaluated SentinelOne’s stock. DA Davidson raised its price target from $17.00 to $19.00 with a “neutral” rating on August 29, while Oppenheimer reduced its target from $26.00 to $24.00, maintaining an “outperform” rating. Morgan Stanley reaffirmed a “positive” rating on September 2, and Sanford C. Bernstein increased its target from $25.00 to $26.00, also designating it as “outperform.” JMP Securities set a price target of $23.00 for SentinelOne.
The consensus among analysts is mixed, with one rating the stock as a Strong Buy, twenty-one giving it a Buy rating, nine issuing a Hold rating, and one analyst recommending a Sell. According to MarketBeat.com, SentinelOne currently holds a consensus rating of “Moderate Buy” and an average target price of $22.43.
SentinelOne’s Recent Earnings and Stock Performance
On December 4, 2023, SentinelOne reported quarterly earnings that surpassed expectations. The company announced earnings per share (EPS) of $0.07, exceeding the consensus estimate of $0.05 by $0.02. Despite a negative return on equity of 14.95% and a negative net margin of 43.04%, SentinelOne’s revenue for the quarter reached $258.91 million, slightly above analysts’ expectations of $256.19 million. This represents a significant increase of 22.9% compared to the same period last year.
Looking ahead, analysts predict that SentinelOne will report an EPS of -0.76 for the current fiscal year.
Insider Transactions and Institutional Holdings
In related news, insider Keenan Michael Conder sold 5,871 shares of SentinelOne on November 6 at an average price of $16.56, totaling $97,223.76. Following this transaction, Conder’s remaining shares are valued at approximately $9,497,756.16. Meanwhile, insider Ric Smith sold 23,520 shares on September 9 for $425,006.40 at an average price of $18.07. Following this sale, Smith holds 928,021 shares valued at around $16,769,339.47.
In total, insiders have sold 398,285 shares worth $7,089,580 over the past three months, with corporate insiders owning 4.33% of the company’s stock.
Institutional investors have also been active, with Norges Bank acquiring a new position in SentinelOne valued at approximately $65,371,000 in the second quarter. UBS Asset Management significantly increased its stake by 131.3% in the first quarter, now holding 4,374,714 shares worth $79,532,000. Additionally, Cooper Creek Partners Management LLC acquired a new stake valued at $41,416,000 in the third quarter. Vanguard Group Inc. raised its holdings by 6.5%, now owning 36,012,413 shares valued at $634,179,000.
Overall, institutional investors control 90.87% of SentinelOne’s stock, highlighting strong interest from major financial entities in the cybersecurity company.
SentinelOne operates as a cybersecurity provider, offering its Singularity Platform, which delivers autonomous threat prevention, detection, and response capabilities. This technology aims to protect organizations against a wide range of cyber threats across their endpoints, cloud workloads, and identity credentials.
