Needham raised the firm’s price target on SentinelOne to $31 from $28 and keeps a Buy rating on the shares ahead of its Q4 results. The firm anticipates a “strong” print and guide from the company given the stabilizing macro and security spend, favorable platform consolidation trends, and strong endpoint and adjacent product growth, the analyst tells investors in a research note. SentinelOne shares also look “relatively inexpensive” at 9.6-times enterprise value to expected 2024 sales – a discount vs. its Security peers, the firm added.
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