In a recent report issued on Tuesday, September 19th, stock analysts from Citigroup raised their target price for SentinelOne (NYSE:S) from $15.00 to $18.00, as reported by FlyOnTheWall. This adjustment in the target price suggests a potential upside of 8.66% from the stock’s current price.
Shares of SentinelOne opened at $16.57 on Tuesday and have displayed a 50-day simple moving average of $15.86 as well as a 200-day simple moving average of $16.20. The company possesses a market capitalization of approximately $4.90 billion, with a P/E ratio of -12.18 and a beta of 0.30. Over the past year, SentinelOne has seen its shares trade between a low of $12.43 and a high of $28.59.
Recent activity in hedge funds has revealed significant interest in SentinelOne among investors both buying and selling shares of the company’s stock. Notably, Envestnet Asset Management Inc., during the first quarter, increased its holdings in SentinelOne by 20%, now owning 8,643 shares worth around $335,000 after acquiring an additional 1,439 shares within that period.
Additionally, ProShare Advisors LLC enterprisingly acquired a new position in SentinelOne during the first quarter valued at approximately $286,000 while Bank of New York Mellon Corp intensified its holdings by 547.1%, now possessing 478,107 shares worth roughly $18,521,000 after acquiring an extra 404,220 shares during that timeframe.
Cetera Advisor Networks LLC also made strategic moves and purchased a new position in SentinelOne worth around $212,000 during the first quarter while PNC Financial Services Group Inc.’s acquisition was valued at approximately $108,000 within the same period.
It is important to note that approximately 71.33% of the company’s stock is currently owned by institutional investors and hedge funds.
On Thursday, August 31st, SentinelOne last issued its earnings results. The company reported an EPS (earnings per share) of ($0.08) for the quarter, exceeding analysts’ consensus estimates of ($0.14) by $0.06. Furthermore, SentinelOne displayed a negative net margin of 74.19% and a negative return on equity of 21.47%. The business generated revenue of $149.42 million during the quarter, surpassing consensus estimates of $140.98 million. Comparatively, in the same quarter last year, the firm posted an EPS of ($0.32). Moreover, the business witnessed a 45.8% increase in revenue for the quarter when compared to the corresponding period last year.
Analysts predict that for this fiscal year, SentinelOne will announce earnings per share amounting to -1.16.
Overall, this report indicates positive prospects for SentinelOne as reflected by Citigroup’s raised target price and the performance observed in recent quarters. While further monitoring is necessary to track these developments accurately, market participants are keeping a close eye on this stock as it continues to spark interest among investors and demonstrates growth potential within its industry sector.
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Analyst Reports and Insider Transactions: Assessing SentinelOne’s Market Performance and Executive Confidence
In recent news surrounding SentinelOne, a number of equities research analysts have issued reports on the stock. These reports aim to provide investors with insights into the company’s performance and potential growth. One such report comes from Piper Sandler, who raised their price target on SentinelOne shares from $15.00 to $17.00 and gave the stock a “neutral” rating. This indicates that while they believe in the company’s potential, they do not see significant room for growth in the near future.
Similarly, Wells Fargo & Company also increased their price objective on SentinelOne to $17.00 and assigned an “equal weight” rating. This suggests that they view the stock as fairly valued in relation to its peers. Jefferies Financial Group also weighed in, raising their target price from $15.50 to $17.00 and giving the company a “hold” rating.
However, not all analysts share this cautious sentiment towards SentinelOne. BTIG Research actually downgraded the stock from a “buy” rating to a “neutral” rating back in June.
These conflicting opinions reflect the ongoing uncertainty within the market as investors continue to evaluate SentinelOne’s potential value amidst changing industry landscapes.
According to data from Bloomberg, SentinelOne has received mixed ratings overall, with one analyst giving it a sell rating, seventeen recommending holding positions, eight suggesting buying opportunities, and one offering a strong buy recommendation. The consensus among these analysts is that SentinelOne is currently a hold-worthy stock.
Looking beyond research reports and into recent developments within the company itself, it appears that there have been notable insider transactions involving key executives. Chief Operating Officer Narayanan Srivatsan sold 12,709 shares of SentinelOne stock on July 6th at an average price of $14.67 per share, resulting in a total transaction value of $186,441.03. Following this sale, Srivatsan now holds 585,852 shares of the stock, with a value of approximately $8,594,448.84.
In addition to Srivatsan’s transaction, CFO David J. Bernhardt sold 3,076 shares of SentinelOne stock on July 11th at an average price of $15.00 per share. This sale amounted to a total transaction value of $46,140.00. Currently, Bernhardt holds 428,390 shares in the company, which are valued at around $6,425,850.
These insider transactions can raise questions among investors about the confidence and intentions of key executives within the company. It is worth noting that these sales were disclosed through filings with the Securities and Exchange Commission (SEC), ensuring transparency for shareholders.
Furthermore, it is important to consider that these sales are part of a larger trend. Over the past quarter alone, insiders have sold a substantial amount of SentinelOne stock. In total, 227,958 shares were sold by company insiders amounting to a value of $3,604,072.This raises concerns about any potential implications or changes happening within the organization.
It should be noted that company insiders currently hold approximately 5.93% of SentinelOne’s stock. This highlights their significant ownership and potential influence over strategic decisions moving forward.
In conclusion, while research reports provide varying opinions on SentinelOne’s future prospects and market performance analysts generally advise taking a cautious approach with this stock. The recent insider transactions also reveal that key executives have been selling their shares; however this may not necessarily indicate negative sentiment towards the company’s performance or its prospects going forward. Nonetheless, keeping an eye on these developments and continuously assessing any new information is vital for investors seeking to make informed decisions regarding SentinelOne as we progress into September 2023.
