Loop Capital Starts SentinelOne Inc (S) at Buy

Loop Capital analyst Yun Kim initiates coverage on SentinelOne Inc (NYSE: S) with a Buy rating and a price target of $60.00.

The analyst comments "We are initiating coverage of SentinelOne with a Buy rating and $60 PT. In our view, the company represents perhaps the fastest growth story in software today at 76% revenue CAGR estimate over the next three years. Our positive outlook is driven by the following: 1) urgent need to replace legacy anti-virus endpoint solution that is no longer effective against today’s more sophisticated cyberattacks; 2) recent work-from-home (WFH) trend increasing not only the number of endpoints but also the need to secure and manage them outside of the corporate network; 3) continued rapid increase in the number of endpoints that need to be secured including IoT devices and cloud workloads; 4) agent-based endpoint platform that is evolving into a strategic beachhead for XDR (extended detection and response), which represent the next-generation unifying platform SOC (security operation center)."

For an analyst ratings summary and ratings history on SentinelOne Inc click here. For more ratings news on SentinelOne Inc click here.

Shares of SentinelOne Inc closed at $46.56 yesterday.

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