SentinelOne shares ‘must be rerated,’ Citron Research says

In a post to X, Citron Research said: “SentinelOne (S) (S)- $32 tgt. $S just cracked the Salt Typhoon hack – tracing two Chinese state attackers back to Cisco’s own training program… While exposing the biggest telecom breach in U.S. history, the company completed its transformation from “endpoint vendor” to full AI-native security platform. Q3 bookings tell the story: Over 50% from Cloud, Data & AI.. a PLATFORM Yet $S still trades at ~5x revenue, as if it’s a commodity endpoint product. This company must be rerated! $32 target is simple: apply just 8.5x forward revenue (the LOW END of platform comps) to FY26 estimates and adjust for cash. You get a $9.5-10B valuation. No heroics. Just valuing SentinelOne as what it already is.”