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Why SentinelOne (S) Dipped More Than Broader Market Today

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SentinelOne (S - Free Report) closed the latest trading day at $17.77, indicating a -0.84% change from the previous session's end. The stock's performance was behind the S&P 500's daily loss of 0.2%. At the same time, the Dow lost 0.16%, and the tech-heavy Nasdaq lost 0.07%.

The cybersecurity provider's stock has climbed by 16.97% in the past month, exceeding the Computer and Technology sector's gain of 8.27% and the S&P 500's gain of 7.49%.

The investment community will be paying close attention to the earnings performance of SentinelOne in its upcoming release. The company is slated to reveal its earnings on December 5, 2023. The company is expected to report EPS of -$0.08, up 50% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $156.15 million, showing a 35.4% escalation compared to the year-ago quarter.

For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.39 per share and a revenue of $605.14 million, signifying shifts of +44.29% and +43.34%, respectively, from the last year.

Investors should also take note of any recent adjustments to analyst estimates for SentinelOne. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, SentinelOne holds a Zacks Rank of #3 (Hold).

The Computers - IT Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 63, positioning it in the top 25% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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