SentinelOne Inc (S) PT Raised to $82 at Needham & Company
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Needham & Company analyst Alex Henderson raised the price target on SentinelOne Inc (NYSE: S) to $82.00 (from $58.00) while maintaining a Buy rating.
The analyst commented, "In its first quarter as a public company, SentinelOne delivered a strong quarter with substantially higher than forecasted ARR, Revenues, Margins and guidance. Based on these better than expected results and guidance, we are materially increasing our forecasts and increasing our Price Target to $82 from $58. SentinelOne is one of the richest valuation names in our coverage, but it's also the only one growing over 100%. We think the strong metrics and growth will continue and help it grow into its valuation. While much is made of the competition between Sentinel and Crowd, we think both companies will excel. Our Price Target is based on a 42x EV/Sales multiple on our just-raised CY23 estimate."
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