SentinelOne price target raised to $25 from $17 at Jefferies

Jefferies raised the firm’s price target on SentinelOne to $25 from $17 and keeps a Hold rating on the shares after the company reported year-over-year ARR growth of 43% that beating consensus and modestly raised FY24 ARR by more than the beat as it executed through a tough environment. While this was “yet another” quarter of improvement and results were “solid,” the valuation in after-hours trading “appears fair” given the competitive landscape that features Microsoft (MSFT) and Crowdstrike (CRWD), the analyst tells investors.