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SentinelOne (S) Expands Cloud Security in India With XDR
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SentinelOne (S - Free Report) recently launched a virtual data center in Mumbai to serve its Indian customers. The data center will help customers to protect their businesses from cyber-attacks and meet the reporting requirements of their industries.
The prevention of cyber-attacks and meeting the complex Indian reporting requirements have been major concerns for various industries in India. SentinelOne’s Singularity platform caters to this issue by allowing organizations, that are sensitive to data residency and privacy, to leverage AI-powered protection to keep their assets secure.
The company’s Singularity platform is a unified solution that combines endpoint protection, cloud security, identity threat detection and response and data ingestion with analytics. It is the first open XDR solution in India that delivers complete data localization and sovereignty.
This cloud data center expansion will be hosted by SentinelOne’s strategic partner Amazon’s (AMZN - Free Report) cloud computing platform Amazon Web Services. It will provide direct, high-performance access to the Singularity platform, with a native back end to offer complete data localization and sovereignty with an India-based AWS Point-of-Presence.
SentinelOne’s shares have decreased 0.9% year to date against the Zacks Computers – IT Services industry’s rise of 17.3% in the same time frame.
The downtick has been primarily due to stiff competition and a decline in usage and consumption among certain customers. Further deal downsizing, lower pipeline conversion and budget tightening have been major headwinds.
The company also faces stiff competition from other cybersecurity companies like CrowdStrike (CRWD - Free Report) that offer similar services. Shares of CrowdStrike have increased 41.9% year to date, outperforming SentinelOne.
CrowdStrike provides endpoint security, threat intelligence and cyberattack response services. Its fiscal first-quarter revenues rose 42% year over year to $692.6 million.
SentinelOne’s Partnerships to Boost Prospects
Despite major headwinds, SentinelOne banks on a strong product portfolio of cybersecurity, data and AI and Singularity Marketplace solutions. The growing adoption of its Singularity Marketplace has been noteworthy, thereby driving its top line.
SentinelOne rides on strong partnerships with enterprises like ServiceNow (NOW - Free Report) and AWS which leverages the Singularity XDR platform to provide end-to-end threat detection and automated response.
SentinelOne’s partnership with ServiceNow aims to unify security and IT teams for more effective responses to cyberattacks. The SentinelOne App seamlessly syncs threats into ServiceNow Incident Response for security operations and incident response.
SentinelOne recently expanded its collaboration with AWS. Together they aim to provide cloud workload protection, data localization and sovereignty, and integration with AWS Security Hub and other AWS services.
SentinelOne expects to benefit from its significant investments in innovation and addressing multiple large markets. Strong momentum in its Singularity platform is expected to boost customer retention and maintain market share.
The Zacks Consensus Estimate for second-quarter revenues is pegged at $141.49 million, indicating 38.02% growth from the year-ago quarter’s reported figure.
The consensus mark for loss has remained unchanged at 15 cents per share in the past 30 days, indicating year-over-year growth of 25%.
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SentinelOne (S) Expands Cloud Security in India With XDR
SentinelOne (S - Free Report) recently launched a virtual data center in Mumbai to serve its Indian customers. The data center will help customers to protect their businesses from cyber-attacks and meet the reporting requirements of their industries.
The prevention of cyber-attacks and meeting the complex Indian reporting requirements have been major concerns for various industries in India. SentinelOne’s Singularity platform caters to this issue by allowing organizations, that are sensitive to data residency and privacy, to leverage AI-powered protection to keep their assets secure.
The company’s Singularity platform is a unified solution that combines endpoint protection, cloud security, identity threat detection and response and data ingestion with analytics. It is the first open XDR solution in India that delivers complete data localization and sovereignty.
This cloud data center expansion will be hosted by SentinelOne’s strategic partner Amazon’s (AMZN - Free Report) cloud computing platform Amazon Web Services. It will provide direct, high-performance access to the Singularity platform, with a native back end to offer complete data localization and sovereignty with an India-based AWS Point-of-Presence.
SentinelOne, Inc. Price and Consensus
SentinelOne, Inc. price-consensus-chart | SentinelOne, Inc. Quote
SentinelOne Faces Stiff Competition
SentinelOne’s shares have decreased 0.9% year to date against the Zacks Computers – IT Services industry’s rise of 17.3% in the same time frame.
The downtick has been primarily due to stiff competition and a decline in usage and consumption among certain customers. Further deal downsizing, lower pipeline conversion and budget tightening have been major headwinds.
The company also faces stiff competition from other cybersecurity companies like CrowdStrike (CRWD - Free Report) that offer similar services. Shares of CrowdStrike have increased 41.9% year to date, outperforming SentinelOne.
CrowdStrike provides endpoint security, threat intelligence and cyberattack response services. Its fiscal first-quarter revenues rose 42% year over year to $692.6 million.
SentinelOne’s Partnerships to Boost Prospects
Despite major headwinds, SentinelOne banks on a strong product portfolio of cybersecurity, data and AI and Singularity Marketplace solutions. The growing adoption of its Singularity Marketplace has been noteworthy, thereby driving its top line.
SentinelOne rides on strong partnerships with enterprises like ServiceNow (NOW - Free Report) and AWS which leverages the Singularity XDR platform to provide end-to-end threat detection and automated response.
SentinelOne’s partnership with ServiceNow aims to unify security and IT teams for more effective responses to cyberattacks. The SentinelOne App seamlessly syncs threats into ServiceNow Incident Response for security operations and incident response.
SentinelOne recently expanded its collaboration with AWS. Together they aim to provide cloud workload protection, data localization and sovereignty, and integration with AWS Security Hub and other AWS services.
SentinelOne expects to benefit from its significant investments in innovation and addressing multiple large markets. Strong momentum in its Singularity platform is expected to boost customer retention and maintain market share.
This Zacks Rank #3 (Hold) company expects second-quarter fiscal 2024 revenues of $141 million, suggesting a 38% increase on a year-over-year basis. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for second-quarter revenues is pegged at $141.49 million, indicating 38.02% growth from the year-ago quarter’s reported figure.
The consensus mark for loss has remained unchanged at 15 cents per share in the past 30 days, indicating year-over-year growth of 25%.