BofA analyst Tal Liani downgraded SentinelOne (SM) to Neutral from Buy with a price target of $16, down from $28, flagging risks to estimates and increased competition with Microsoft (MSFT). He believes the company’s 2023 guidance for 22% year-over-year organic net new ARR growth may prove to be too high given the current environment, Liani tells investors. He also highlights risks of a slowdown from both new and existing customers due to project delays or cancellations and potential weakness in the MSSP channel.
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Published first on TheFly
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