Stephens analyst Brian Colley initiated coverage of SentinelOne (S) with an Overweight rating and $22 price target. SentinelOne’s platform addresses "many of the highest-priority areas of security spending," contends the firm, which adds that the company has "solidified its position" as the number two player in next-gen endpoint security while expanding its AI-powered XDR platform into an increasing number of emerging capabilities. While acknowledging that the company faces competition from Crowdstrike (CRWD) and Microsoft (MSFT), the firm argues that the $20B modern endpoint security market "presents a large enough opportunity for multiple winners."
Published first on TheFly
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