On June 1, 2023, Sentinel One released its fiscal first-quarter 2024 results for the quarter ending April 2023. SentinelOne shares have tumbled from a high of $78.53 in November 2021 to a new low of $12.43 in June 2023. ![]() The concerns have been reflected in its stock. Fear drives the cybersecurity business.įor SentinelOne, this impacts its ability to upsell services and continue its hypergrowth trajectory. But, when the macroeconomic landscape gets more challenging, companies scrutinize expenses and trim down in areas that aren’t contributing to the top and bottom lines.Ĭybersecurity protection won’t directly help grow revenues for customers’ businesses, but the downside of not having cybersecurity can be crippling. When the economy is strong, companies have little problem buying them. They are a preventative measure and a defensive expense for companies. Selling Fire Extinguishers During a Rain StormĬybersecurity services are like buying fire extinguishers. Collapse Back Into the Weekly Descending Triangle.Selling Fire Extinguishers During a Rain Storm.Profits continue to grow larger despite climbing revenues. As a hypergrowth company, it saw revenues spike more than 70% but lowered its fiscal full-year 2024 guidance causing investors to panic out of the stock. (NYSE:S) stock took a (35%) drop on its fiscal Q1 2024 earnings release. 5 stocks we like better than SentinelOneĮnterprise cybersecurity firm SentinelOne Inc.SentinelOne stock has a 6.7% short interest.A slew of analysts cut their ratings on S stock, lowering estimates from the $22 range to the $13 to $13 to $15 range.The company announced a 5% workforce reduction.SentinelOne took a one-time $27 million adjustment to correct ARR inaccuracies. ![]() SentinelOne’s Q1 2024 revenues rose nearly 71% to $133.39 million but fell short of consensus analyst estimates for $133.39 as it lowered full-year guidance as losses grew wider.SentinelOne is an enterprise cybersecurity company that launched its one-of-a-kind Purple AI, which provides real-time automated responses against cyber threats.Learn the Insider Secrets of what the Top Hedge Funds are doing TODAY to maximize their upside and gains.
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