Posted 2/18/2024, 2:15:00 PM
SentinelOne Stock Surges on Strong Growth and New AI Product
- Cybersecurity company SentinelOne has seen its stock price surge 86% in the past year due to strong financial results and outlook
- Revenue grew 42% and loss per share declined sharply in latest quarter, with guidance raised for full year
- Launch of new Purple AI product utilizing generative AI to improve efficiency of cybersecurity teams is driving growth
- Generative AI cybersecurity spending expected to soar from $9M in 2022 to nearly $14B in 2032
- If SentinelOne hits $1B revenue in fiscal 2026 and maintains valuation, stock could jump another 73%