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SentinelOne (S) Rides on Expanding Clientele, Federal Footprint
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SentinelOne (S - Free Report) is riding on an expanding clientele. It is improving its footprint among federal agencies through the availability of the FedRAMP-authorized Singularity DataLake solution that combines visibility, detection and response across the entire security infrastructure.
Singularity DataLake solution is the industry’s first and only unified, cloud-delivered solution for OMB M-21-31 compliance. It combines SentinelOne and third-party security data visibility into a single console.
The company is banking on a solid portfolio of cybersecurity solutions and data capabilities powered by artificial intelligence. Its Singularity platform is renowned for protecting user endpoints, cloud workloads and identity infrastructure. The growing adoption of its Singularity Marketplace has been noteworthy in recent times.
The company’s innovative portfolio has won accolades with the Gartner Peer Insights Customers’ Choice for Endpoint Protection Platforms report, placing it among the highest-rated vendors.
A robust portfolio is helping SentinelOne win new customers. In second-quarter fiscal 2024, it added more than 700 new customers and the total customer base exceeded 11,000.
Strong Partner Base Aids Prospects
SentinelOne shares have gained 11.5% year to date, underperforming the Zacks Computer & Technology sector’s gain of 34.4%. The underperformance can be attributed to stiff competition.
Nevertheless, SentinelOne is riding on an expanding partner base that includes the likes of Chubb (CB - Free Report) , ServiceNow (NOW - Free Report) , Mandiant and Amazon (AMZN - Free Report) cloud arm, Amazon Web Services (“AWS”), which leverages the Singularity XDR platform to provide end-to-end threat detection and automated response.
SentinelOne and Chubb recently announced a partnership to enhance cyber risk management for U.S. businesses. This partnership extends SentinelOne's cybersecurity solutions to a broader audience through Chubb's extensive network.
The company launched a virtual data center in Mumbai to serve its India-based customers hosted by Amazon. Its Singularity platform is India's first open XDR solution that delivers complete data localization and sovereignty.
The company 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.
Moreover, SentinelOne’s partnership with ServiceNow aims to unify security and IT teams for more effective cyberattack responses. The SentinelOne App seamlessly syncs threats into ServiceNow Incident Response for security operations and incident response.
The Zacks Consensus Estimate for fiscal third-quarter revenues is pegged at $156.16 million, suggesting 35.42% year-over-year growth. The consensus mark for loss is pegged at 8 cents per share, unchanged over the past 30 days.
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SentinelOne (S) Rides on Expanding Clientele, Federal Footprint
SentinelOne (S - Free Report) is riding on an expanding clientele. It is improving its footprint among federal agencies through the availability of the FedRAMP-authorized Singularity DataLake solution that combines visibility, detection and response across the entire security infrastructure.
Singularity DataLake solution is the industry’s first and only unified, cloud-delivered solution for OMB M-21-31 compliance. It combines SentinelOne and third-party security data visibility into a single console.
The company is banking on a solid portfolio of cybersecurity solutions and data capabilities powered by artificial intelligence. Its Singularity platform is renowned for protecting user endpoints, cloud workloads and identity infrastructure. The growing adoption of its Singularity Marketplace has been noteworthy in recent times.
The company’s innovative portfolio has won accolades with the Gartner Peer Insights Customers’ Choice for Endpoint Protection Platforms report, placing it among the highest-rated vendors.
A robust portfolio is helping SentinelOne win new customers. In second-quarter fiscal 2024, it added more than 700 new customers and the total customer base exceeded 11,000.
Strong Partner Base Aids Prospects
SentinelOne shares have gained 11.5% year to date, underperforming the Zacks Computer & Technology sector’s gain of 34.4%. The underperformance can be attributed to stiff competition.
SentinelOne, Inc. Price and Consensus
SentinelOne, Inc. price-consensus-chart | SentinelOne, Inc. Quote
Nevertheless, SentinelOne is riding on an expanding partner base that includes the likes of Chubb (CB - Free Report) , ServiceNow (NOW - Free Report) , Mandiant and Amazon (AMZN - Free Report) cloud arm, Amazon Web Services (“AWS”), which leverages the Singularity XDR platform to provide end-to-end threat detection and automated response.
SentinelOne and Chubb recently announced a partnership to enhance cyber risk management for U.S. businesses. This partnership extends SentinelOne's cybersecurity solutions to a broader audience through Chubb's extensive network.
The company launched a virtual data center in Mumbai to serve its India-based customers hosted by Amazon. Its Singularity platform is India's first open XDR solution that delivers complete data localization and sovereignty.
The company 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.
Moreover, SentinelOne’s partnership with ServiceNow aims to unify security and IT teams for more effective cyberattack responses. The SentinelOne App seamlessly syncs threats into ServiceNow Incident Response for security operations and incident response.
SentinelOne, which currently has a Zacks Rank #3 (Hold), expects third-quarter fiscal 2024 revenues to be $156 million, indicating year-over-year growth of 35%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for fiscal third-quarter revenues is pegged at $156.16 million, suggesting 35.42% year-over-year growth. The consensus mark for loss is pegged at 8 cents per share, unchanged over the past 30 days.