- Needham analyst Alex Henderson reiterated Buy on SentinelOne, Inc (NYSE:S) with a $28 price target.
- Slowing growth at Sentinel on macro pressures may be just what the stock needs.
- Henderson expects slower growth accompanied by tighter spending and more rapid improvement in Operating Margins.
- Sentinel will see a similar deceleration in the low end of its customer base, as cited by Okta, Inc (NASDAQ: OKTA) and CrowdStrike Holdings, Inc (NASDAQ: CRWD).
- Sentinel will come in relatively in line to even a bit ahead on FY3Q but expect its guidance for FY4Q to factor in the eroding conditions., Henderson writes in the analyst note.
- Like Crowd, Henderson does not expect S-One to assume a significant budget flush in CY4Q, resulting in caution guidance for the quarter and no guidance for FY24.
- As conditions get more brutal, Sentinel would downshift growth expectations and staffing builds, which should allow upside to EPS even as the company decelerates.
- Price Action: S shares traded lower by 3.65% at $14.24 on the last check Monday.
H.B. Fuller Sees FY24 EPS $4.15-$4.45 Vs $4.22 Est.; Net Revenue Expected To Be In The Range Of Up 2% To 6% With Organic Revenue Flat To Up 3% Versus Fiscal 2023
Fiscal 2024 Outlook:Net revenue growth for fiscal 2024 is expected to be in the range of up 2% to 6% with organic revenue flat to up 3% versus fiscal 2023, reflecting a rebound in demand following the unprecedented
