SentinelOne, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Mike Cikos from Needham maintained a Buy rating on the stock and has a $21.00 price target.
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Mike Cikos has given his Buy rating due to a combination of factors that highlight SentinelOne’s strong growth potential and strategic positioning. After visiting the company’s headquarters, he observed a positive outlook on the business drivers leading into fiscal year 2027. Notably, SentinelOne’s Emerging Products are expanding rapidly, with Data Solutions experiencing significant growth, surpassing 100% year-over-year, which is estimated to contribute approximately $115 million in annual recurring revenue.
Additionally, SentinelOne’s strategy of balancing new and existing customer acquisition is expected to stabilize quarterly performance and bolster long-term growth. The projected $202 million in net-new annual recurring revenue for fiscal year 2027 is deemed conservative, given the elimination of previous challenges, consistent execution, and the positive impact of acquisitions. These factors collectively support the Buy rating, reflecting confidence in the company’s future performance.
In another report released on December 10, Berenberg Bank also maintained a Buy rating on the stock with a $25.00 price target.