SentinelOne initiated with a Sector Weight at KeyBanc

KeyBanc analyst Eric Heath initiated coverage of SentinelOne (S) with a Sector Weight rating and no price target. SentinelOne is on “equal footing” with CrowdStrike (CRWD) on endpoint capabilities and likely to continue to gain share in endpoint security as a cost-effective provider, the analyst tells investors in a research note. However, the firm is cautious given its low single digit endpoint market share, greater small business exposure that is more likely to feel competitive pressures amid a difficult macro environment, and “less mature” cloud security offering. As such, it views the stock as fairly valued.