BUZZ-SentinelOne slips on downbeat Q4 revenue outlook, CFO departure
SentinelOne's stock fell 8.1% premarket to $15.60 after forecasting Q4 revenue of $271 million, below analysts' expectations. CFO Barbara Larson will depart in January, with Barry Padgett as interim CFO. Despite a slight Q3 revenue beat, at least four brokerages cut price targets, citing concerns over the outlook and CFO departure. J.P. Morgan reduced its price target to $17, while D.A. Davidson noted shares remain cheap but unlikely to re-rate higher without stable growth. The stock is rated "buy" on average, with a median price target of $23.
SentinelOne (S.N) slips 8.1% to $15.60 premarket
Cybersecurity firm forecasts Q4 revenue at $271 mln, below analysts’ estimate of $273.1 mln, per data compiled by LSEG
Says current CFO Barbara Larson will leave her role in mid January; Barry Padgett will serve as interim CFO
However, Q3 revenue narrowly beats estimates
At least four brokerages cut PT following Q3 results
J.P.Morgan says lack of upside in outlook, CFO departure within a year of joining added to investors’ concerns; trims PT to $17 from $19
D.A. Davidson says while shares remain cheap, re-rating higher unlikely until investors convinced that stable growth is likely
Stock rated “buy” on avg; median PT at $23, per data compiled by LSEG
Shares down 23.5% this year, till last close
