SentinelOne price target lowered to $28 from $35 at BofA

BofA analyst Tal Liani lowered the firm’s price target on SentinelOne to $28 from $35 and keeps a Buy rating on the shares after the company’s Q3 report. Results in Q3 beat Street’s estimates, but net new ARR missed and the 50% FY24 ARR growth guidance "might also prove too high," Liani tells investors. He has revised his estimates and lowered his price target "accordingly," but he argues that the 72% year-to-date decline in the stock "already captures weak spending."