SentinelOne price target raised to $19 from $16 at Guggenheim

Guggenheim raised the firm’s price target on SentinelOne to $19 from $16 and keeps a Buy rating on the shares based on a scenario where free cash flow margins ramp more quickly in the medium-term. The firm expects an in-line quarter when SentinelOne reports fiscal Q2 results on August 31, but sees risks to FY24 ARR guidance, notes the analyst, who adds that the firm expects results to be “overshadowed by a potential acquisition of the company” given recent reports that SentinelOne is exploring strategic alternatives.