- 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.
8 Analysts Have This to Say About Jamf Holding
Over the past 3 months, 8 analysts have published their opinion on Jamf Holding (NASDAQ:JAMF) stock. These analysts are typically employed by large Wall Street banks and tasked with understanding a company's business to predict how a stock will trade over the upcoming year.
