SentinelOne price target raised to $22 from $19 at Wedbush

Wedbush analyst Taz Koujalgi raised the firm’s price target on SentinelOne to $22 from $19 and keeps an Outperform rating on the shares. SentinelOne had a good quarter, with all metrics coming in ahead of Street expectations, with win rates improving and ASPs remaining consistent despite macro conditions that remained similar to last quarter, the analyst tells investors in a research note. SentinelOne’s FY24 ARR growth guidance of 47% y/y was below the 50% y/y it had guided to last quarter, but appears reasonable given the macro backdrop and should not be a big negative, the firm adds.