UPDATE: SentinelOne Inc (S) PT Lowered to $48 at BTIG
Get Alerts S Hot Sheet
Rating Summary:
15 Buy, 13 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
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BTIG analyst Gray Powell lowered the price target on SentinelOne Inc (NYSE: S) to $48.00 (from $78.00) while maintaining a Buy rating.
The analyst comments "S reported strong FQ4ā22 results with 5% upside vs street ARR forecasts, an 8% revenue beat, and better than expected operating income and FCF losses. In addition, the company guided FY23 revenue to $368MM /80% y/y ā nicely ahead of street expectations at $346MM and right on top of the potential upside scenario that we outlined in our preview checks back on 2/23. All in, we thought it was a very good FQ4 report. We understand that some investors were hoping for slightly more upside on FQ4 ARR. That said, the seasonal net add trend looked about right to us and we think it is hard to complain too much about a 123% y/y growth rate. Commentary on new module adoption (now 33% on net ARR adds) was also encouraging. And as a result, we left with a high degree of confidence in Sās ability to exceed forecasts over the course of FY23. Reiterate Buy."
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