SentinelOne Reverses Trend To Add 7% On Better Outlook Than Estimates

Shares of cybersecurity platform company SentinelOne, Inc. (S) are rising more than 7% in the morning trade on Wednesday after the company's first-quarter as well as full-year revenue outlook comes in above analysts view.

The stock was trading down more than 7% yesterday after the bell.

For the first quarter, SentinelOne expects revenue to be in the range of $74 million-75 million. On average, 15 analysts polled by Thomson Reuters expect the company to report revenue of $68.17 million for the quarter.

For the full year revenue is expected between $366 million and $370 million. The consensus estimate stands at $346.17 million.

The company reported net loss of $71.71 million or $0.27 per share in the fourth quarter, compared with net loss of $37.84 million or $1 per share a year ago.

Excluding one-time items, loss was $0.17 per share, that beat the consensus estimate of $0.18 loss per share.

Revenue for the quarter increased 120% year-over-year to $65.64 million.

Separately, the company announced its decision to acquire Attivo Networks in a cash and stock transaction valued at $616.5 million.

Attivo Networks serves global customers from leading Fortune 500 companies to government entities, protecting against identity compromise, privilege escalation, and lateral movement attacks, the company said.

The deal is expected to close in the second quarter.

SentinelOne stock is at $33.24 currently. It has traded in the range of $29.30- $78.53 in the past 52 weeks.

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