SentinelOne price target raised to $33 from $30 at JPMorgan

TipRanks

Sat, Nov 30, 2024, 5:15 AM 1 min read

JPMorgan raised the firm’s price target on SentinelOne (S) to $33 from $30 and keeps an Overweight rating on the shares as part of an earnings preview. The firm sees the narrative for the stock “shifting in its favor.” The company could reaccelerate as a sustainably profitable emerging competitor, generating cash flow, and taking share in its core markets at a faster rate than its larger competitors, the analyst tells investors in a research note. The stock continues to trade at a discount to its high growth peers and SentinelOne “will report another quarter of healthy results next week,” adds JPMorgan. The firm’s industry conversations have reflected an accelerating pipeline and deal momentum, which it thinks is largely a function of a greater focus on growth-related investment.