Barclays Issues Positive Forecast for SentinelOne (NYSE:S) Stock Price

Key Points

• Barclays has raised its price target for SentinelOne stock from $19.00 to $21.00, which suggests a potential upside of 12.30% from its previous closing price.
• The stock has received a mix of ratings from analysts, including three Strong Buy, fourteen Buy, and eleven Hold ratings, with an average target price of $23.81.
• SentinelOne shares recently traded up 6.2%, reaching $18.70, and reported a 22.9% year-over-year revenue increase in its last quarterly earnings.

SentinelOne (NYSE:S - Get Free Report) had its price objective upped by stock analysts at Barclays from $19.00 to $21.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's price objective indicates a potential upside of 12.30% from the company's previous close.

Other equities analysts have also recently issued reports about the stock. BTIG Research reaffirmed a "neutral" rating on shares of SentinelOne in a research note on Monday. Guggenheim restated a "buy" rating and set a $28.00 price objective on shares of SentinelOne in a report on Wednesday, May 21st. Needham & Company LLC raised their price objective on shares of SentinelOne from $22.00 to $23.00 and gave the stock a "buy" rating in a report on Friday. UBS Group reiterated a "neutral" rating on shares of SentinelOne in a research note on Friday. Finally, Bank of America restated a "neutral" rating and set a $21.00 price objective on shares of SentinelOne in a research note on Thursday, May 29th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $23.81.

SentinelOne Trading Up 6.2%

Shares of SentinelOne stock traded up $1.09 during midday trading on Friday, reaching $18.70. The company had a trading volume of 3,264,671 shares, compared to its average volume of 5,754,711. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of -14.13 and a beta of 0.77. The stock has a fifty day simple moving average of $17.77 and a 200 day simple moving average of $18.71. SentinelOne has a 1-year low of $15.36 and a 1-year high of $29.29.

SentinelOne (NYSE:S - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The company reported $0.02 earnings per share for the quarter, meeting analysts' consensus estimates of $0.02. SentinelOne had a negative net margin of 49.36% and a negative return on equity of 15.95%. The business had revenue of $229.03 million during the quarter, compared to analyst estimates of $228.39 million. The company's quarterly revenue was up 22.9% on a year-over-year basis. Sell-side analysts expect that SentinelOne will post -0.76 earnings per share for the current year.

Insider Buying and Selling at SentinelOne

In other news, CEO Tomer Weingarten sold 31,916 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $17.31, for a total value of $552,465.96. Following the completion of the transaction, the chief executive officer directly owned 1,500,460 shares in the company, valued at approximately $25,972,962.60. The trade was a 2.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Keenan Michael Conder sold 5,827 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $17.31, for a total transaction of $100,865.37. Following the completion of the transaction, the insider owned 590,505 shares of the company's stock, valued at $10,221,641.55. The trade was a 0.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 133,730 shares of company stock worth $2,366,017. 4.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SentinelOne

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Marex Group plc acquired a new position in SentinelOne during the 2nd quarter worth approximately $297,000. Caxton Associates LLP acquired a new position in SentinelOne in the 2nd quarter valued at approximately $282,000. Corient Private Wealth LLC increased its position in SentinelOne by 128.5% in the 2nd quarter. Corient Private Wealth LLC now owns 680,706 shares of the company's stock valued at $12,443,000 after acquiring an additional 382,778 shares during the period. Prevail Innovative Wealth Advisors LLC acquired a new position in SentinelOne in the 2nd quarter valued at approximately $956,000. Finally, Vident Advisory LLC increased its position in SentinelOne by 48.1% in the 2nd quarter. Vident Advisory LLC now owns 719,448 shares of the company's stock valued at $13,152,000 after acquiring an additional 233,800 shares during the period. 90.87% of the stock is currently owned by institutional investors and hedge funds.

About SentinelOne

SentinelOne, Inc operates as a cybersecurity provider in the United States and internationally. Its Singularity Platform delivers an artificial intelligence-powered autonomous threat prevention, detection, and response capabilities across an organization's endpoints, cloud workloads, and identify credentials, which enables seamless and autonomous protection against a spectrum of cyber threats.

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