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SentinelOne Surges as Q4 Results Beat Estimates

Shares of SentinelOne (NYSE: S) surged by more than 10% in morning trading on Wednesday after the cybersecurity company delivered better-than-expected Q4 results. Adjusted loss in Q4 narrowed to $0.13 per share versus a loss of $0.17 in the same period last year. Analysts were expecting a loss of $0.16 per share.

The company’s total revenues soared 92% year-over-year to $126.1 million and beating analysts’ expectations of $124.7 million. Annualized recurring revenue (ARR) increased 88% year-over-year to $548.7 million while the total customer count soared by 50% to over 10,000 customers.

Looking forward, the management now expects Q1 and FY24 revenues to be $137 million and range between $631 and $640 million, respectively. This forecast is above consensus estimates of $136.6 million and $651.3 million in Q1 and FY24, respectively. Adjusted operating margin in Q1 and FY24 is anticipated to be a negative 41% and to range between a negative 29% and 25%, respectively.

Analysts are cautiously optimistic about SentinelOne stock with a Moderate Buy consensus rating based on six Buys and eight Holds.

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