Investors Dump SentinelOne Shares: Analysts On Q1 Print, 'Disastrous' Results

Shares of SentinelOne Inc (NYSE: S) continued their steep decline on Friday morning, after Thursday’s bloodbath in the after-hours session.

The report came amid an exciting earnings season.

Here are some key analyst takeaways from the earnings release.

Raymond James On SentinelOne

Analyst Adam Tindle maintained a Strong Buy rating while reducing the price target from $25 to $20.

SentinelOne reported “disastrous” results for its fiscal first quarter, Tindle said in a note.

Although the quarter’s revenue miss and the reduction in annual recurring revenue (ARR) guidance were attributed largely to the consumption business, “We fear this is easiest to 'shut off' first with the potential intent to move other business later,” the analyst wrote.

“We see investors rightfully throwing this baby out with the bathwater, and intend to monitor checks for indications that the consumption issue will bleed into the rest of the business,” he added.

Check out other analyst stock ratings.

Needham On SentinelOne

Analyst Alex Henderson reaffirmed a Buy rating and price target of $19.

The stock selloff resulted from “a combination of lower than guided results, lowered outlook and a restatement of historical ARR lowering it by $27 million for the current period and a similar percentage in the year-ago,” Henderson wrote in a note.

“We had been cautious into the print on field commentary, but did not expect this sharp a miss and reset,” he added. “The reset materially cuts the expected growth rates for FY24 and FY25,” the analyst further stated.

S Price Action: Shares of SentinelOne had declined by 36.99% to $13.06 at the time of publishing Friday.

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