Needham analyst Alex Henderson lowered the firm’s price target on SentinelOne to $19 from $28 after its wider than expected Q3 earnings loss but keeps a Buy rating on the shares. The company noted elongating selling cycles particularly on larger deals, slower growth in EMEA due to the reduction in "purchasing power" of the customers on currency headwinds, and also saw a number of deals sliding out of the quarter as a result, the analyst tells investors in a research note. Henderson adds however that Sentinel continues to have a strong "record pipeline" while delivering a "healthy" Dollar-Based Net Retention Rate of 134%.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on S:
- SentinelOne price target lowered to $35 from $45 at Cowen
- SentinelOne price target lowered to $20 from $32 at Deutsche Bank
- SentinelOne price target lowered to $18 from $23 at Wells Fargo
- SentinelOne price target lowered to $18 from $20 at Barclays
- SentinelOne price target lowered to $20 from $25 at BTIG