Scotiabank analyst Patrick Colville initiated coverage of SentinelOne with a Sector Perform rating and $13 price target. The analyst states that his checks are positive on the company’s product market fit within the large endpoint security market, and he expects SentinelOne to gain share and increase average revenue per user. Colville adds however that while the medium-term opportunity for the company is "compelling", consensus expectations for annualized recurring revenue growth of over 50% – the fastest across all public software companies – looks "aggressive against a backdrop of softening IT spend".
Published first on TheFly
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