SentinelOne price target raised to $16.50 from $15 at Scotiabank

Scotiabank raised the firm’s price target on SentinelOne to $16.50 from $15 and keeps a Sector Perform rating on the shares. The company’s fiscal Q2 annual recurring revenue “was good enough, but more impressively” it lifted fiscal 2024 guidance, the analyst tells investors in a research note. The firm remains on the sidelines waiting to see further execution toward sustainable ARR growth and margin improvement “in a highly competitive end market.”