SentinelOne initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald analyst Jonathan Ruykhaver initiated coverage of SentinelOne (S) with an Overweight rating and $30 price target. Shares have struggled in the last year relative to competitors despite SentinelOne expanding market share, having “impressive” ARR growth, and sector tailwinds, the analyst tells investors. Demand for endpoint detection and response and extended detection and response products remains strong enough to support multiple vendors, but “the investment community continues to pigeonhole SentinelOne as CrowdStrike’s (CRWD) less successful little brother,” says the analyst, who argues that SentinelOne is well-positioned to take advantage of recent competitor oversights.

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