Peter Weed, an analyst from Bernstein, maintained the Buy rating on SentinelOne (S – Research Report). The associated price target remains the same with $30.00.
Peter Weed has given his Buy rating due to a combination of factors that suggest potential growth for SentinelOne. The company is showing signs of increased inclusion in business deals, which has historically been a challenge due to brand awareness issues. This improvement in deal inclusion is a positive indicator for future growth prospects.
Additionally, SentinelOne’s sales pipeline is reportedly deeper than in previous periods, with stable close rates, suggesting that the company is positioned well for future success. Although the anticipated benefits from these developments were not realized in the last quarter, there is optimism that the upcoming quarter may reflect these positive changes. The expectation is that as the sales cycles complete, SentinelOne will begin to see the benefits in their financial performance, supporting the Buy rating.
In another report released on February 21, Robert W. Baird also maintained a Buy rating on the stock with a $30.00 price target.