SentinelOne price target raised to $18 from $16 at Piper Sandler

Piper Sandler analyst Rob Owens raised the firm’s price target on SentinelOne to $18 from $16 and keeps a Neutral rating on the shares. The company’s Q4 results were solid, with top and bottom line metrics outperforming expectations, the analyst tells investors in a research note. The firm, however, remains cautious, saying the implied organic net new annual recurring revenue growth guide for fiscal 2024 "does not appear de-risked." It continues to expect a strong pace of investment required to capture market share in a "hypercompetitive space."