SentinelOne price target lowered to $17 from $23 at Canaccord

Canaccord analyst Kingsley Crane lowered the firm’s price target on SentinelOne (S) to $17 from $23 and keeps a Buy rating on the shares. The firm said they continue to think the investment story is underappreciated at current levels. With roughly 20% top-line growth, a clear path toward double-digit operating margins, and a platform narrative that is increasingly supported by the data, particularly the rapid growth in multi-product adoption, they believe the growth-adjusted valuation remains attractive relative to security peers.