SentinelOne price target raised to $18.50 from $16 at BofA

BofA raised the firm’s price target on SentinelOne (S) to $18.50 from $16 and keeps a Neutral rating on the shares as the firm adjusted targets for several stocks across its Data Networking and Cybersecurity coverage universe. Management has been “very transparent” about its ARR adjustment, which in the firm’s view has “restored some investor confidence,” but BofA remains concerned about intensifying competitive dynamics from Microsoft (MSFT), CrowdStrike (CRWD), and Palo Alto Networks (PANW).