JMP Securities Reaffirms Market Outperform Rating for SentinelOne (NYSE:S)

Key Points

• JMP Securities has reaffirmed a "market outperform" rating for SentinelOne (NYSE:S) with a target price of $29.00, indicating a potential upside of 57.13% from the current price.
• Multiple analysts have given SentinelOne strong ratings, with three rated as "Strong Buy," sixteen as "Buy," and ten as "Hold," leading to a consensus rating of "Moderate Buy" and a target price of $24.29.
• SentinelOne's CAO and CEO both sold a portion of their shares recently, with the total insider sales over the past three months amounting to $1,230,432, which raises questions about insider confidence.

SentinelOne (NYSE:S - Get Free Report)'s stock had its "market outperform" rating restated by analysts at JMP Securities in a research note issued on Tuesday,Benzinga reports. They currently have a $29.00 target price on the stock. JMP Securities' price objective would indicate a potential upside of 57.13% from the company's current price.

S has been the topic of a number of other reports. Westpark Capital restated a "buy" rating and set a $25.00 price target on shares of SentinelOne in a research note on Friday, August 29th. Guggenheim restated a "buy" rating and set a $28.00 price target on shares of SentinelOne in a research note on Friday, August 29th. Needham & Company LLC increased their price objective on SentinelOne from $22.00 to $23.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Barclays increased their price objective on SentinelOne from $19.00 to $21.00 and gave the company an "equal weight" rating in a research note on Friday, August 29th. Finally, Scotiabank increased their price objective on SentinelOne from $18.00 to $21.00 and gave the company a "sector perform" rating in a research note on Friday, August 29th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $24.29.

SentinelOne Stock Performance

Shares of SentinelOne stock opened at $18.46 on Tuesday. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of -13.98 and a beta of 0.78. SentinelOne has a fifty-two week low of $15.36 and a fifty-two week high of $29.29. The stock has a 50 day moving average of $17.86 and a 200 day moving average of $18.37.

Insider Transactions at SentinelOne

In related news, CAO Robin Tomasello sold 2,921 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $17.31, for a total value of $50,562.51. Following the transaction, the chief accounting officer owned 306,044 shares in the company, valued at $5,297,621.64. The trade was a 0.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Tomer Weingarten sold 31,916 shares of the business's stock in a transaction dated 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 owned 1,500,460 shares in the company, valued at $25,972,962.60. This trade represents a 2.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,634 shares of company stock worth $1,230,432 over the last three months. 4.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SentinelOne

A number of institutional investors have recently added to or reduced their stakes in the business. Daventry Group LP boosted its holdings in SentinelOne by 10.8% in the 2nd quarter. Daventry Group LP now owns 1,883,760 shares of the company's stock valued at $34,435,000 after purchasing an additional 183,251 shares in the last quarter. Marex Group plc purchased a new stake in SentinelOne in the 2nd quarter valued at approximately $297,000. Caxton Associates LLP purchased a new stake in SentinelOne in the 2nd quarter valued at approximately $282,000. Corient Private Wealth LLC boosted its holdings 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 purchasing an additional 382,778 shares in the last quarter. Finally, Prevail Innovative Wealth Advisors LLC purchased a new stake in SentinelOne in the 2nd quarter valued at approximately $956,000. Hedge funds and other institutional investors own 90.87% of the company's stock.

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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