Cantor Fitzgerald Reaffirms Price Target on SentinelOne (S), Citing Cloud and SIEM Strength
On May 24, Cantor Fitzgerald analyst Jonathan Ruykhaver reiterated his $24 price target on SentinelOne Inc. (NYSE:S) and maintained an Overweight rating.
According to his analysis, the cybersecurity company's status as a net exporter and its lack of product dependencies place it in a solid position to weather the current economic storm.
Ruykhaver emphasized the importance of cybersecurity, SentinelOne's tenacity, and its focus on cloud services and next-generation Security Information and Event Management (SIEM). Even so, they recognized that the company's top-line growth is largely reliant on a broadening customer base, which can be erratic in the face of economic challenges.
Additionally, Cantor Fitzgerald identified possible obstacles in the Endpoint Detection and Response (EDR) market, another segment in which SentinelOne Inc. (NYSE:S) is involved. They stated that the relationship between new compute purchases and shifts in workforce sizes may expose risks around demand in this market.
While we acknowledge the potential of S to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than S and that has 100x upside potential, check out our report about the cheapest AI stock.
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