Jefferies analyst Joseph Gallo believes SentinelOne’s (S) acquisition of Prompt Security bolsters the company’s artificial intelligence offering. This deal is sizable for SentinelOne as it represents 4%-5% of current enterprise value and is unlikely to provide material annual recurring revenue given Prompt is just two years old, the analyst tells investors in a research note. Jefferies views AI as a “must win category in cyber.” It keeps a Buy rating on SentinelOne with a $23 price target The stock in midday trading is down 4% to $17.70.
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