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SentinelOne (S) Enhances Portfolio With PingSafe Acquisition
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SentinelOne (S - Free Report) is expanding its footprint in the cloud security landscape with its recent acquisition of PingSafe.
Integration of PingSafe’s advanced cloud native application protection platform (CNAPP) with SentinelOne’s robust cloud workload security and cloud data security capabilities.
This integration is poised to deliver a fully-integrated security platform marked by advanced AI-powered operations and covering the entire spectrum of endpoints, identities and clouds.
The addition of PingSafe's CNAPP to SentinelOne's Singularity Platform not only signifies a paradigm shift in cloud security but also reflects the company's commitment to offering a unified, top-notch security solution that enhances coverage, hygiene, and automation across the enterprise's entire cloud footprint.
SentinelOne shares have gained 58.4% in the past six months, outperforming the Zacks Computer & Technology sector’s increase of 7.9%. The outperformance can be attributed to its commitment to advancing cloud security innovation and delivering an integrated, AI-powered security platform.
In this regard, Singularity Cloud solutions remained the company’s fastest-growing solution in the third quarter of fiscal 2024.
SentinelOne’s growth, surpassing 11,500 clients by third-quarter fiscal 2024, is fueled by its expanding clientele through ongoing partnerships with Secureworks (SCWX - Free Report) , Chubb (CB - Free Report) and ServiceNow (NOW - Free Report) , enhancing cybersecurity, end-to-end threat detection and automated response solutions.
SentinelOne and Secureworks recently collaborated on a global go-to-market program, leveraging the integration of Taegis ManagedXDR and SentinelOne’s Singularity Complete solution to streamline risk management, enhance threat detection and make advanced cybersecurity solutions more accessible to enterprises.
In September, SentinelOne and Chubb 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.
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’s strong portfolio and partner base are contributing to its growth prospects continuously and driving top-line growth.
The Zacks Consensus Estimate for fiscal fourth-quarter revenues is pegged at $169.51 million, suggesting 34.42% growth year over year.
For the fiscal 2024, the company expects total revenues to be $616 million, indicating growth of 46% from fiscal 2023 levels. The Zacks Consensus Estimate for fiscal 2024 revenues is pegged at $616.49 million, suggesting a 46.03% surge year over year.
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SentinelOne (S) Enhances Portfolio With PingSafe Acquisition
SentinelOne (S - Free Report) is expanding its footprint in the cloud security landscape with its recent acquisition of PingSafe.
Integration of PingSafe’s advanced cloud native application protection platform (CNAPP) with SentinelOne’s robust cloud workload security and cloud data security capabilities.
This integration is poised to deliver a fully-integrated security platform marked by advanced AI-powered operations and covering the entire spectrum of endpoints, identities and clouds.
The addition of PingSafe's CNAPP to SentinelOne's Singularity Platform not only signifies a paradigm shift in cloud security but also reflects the company's commitment to offering a unified, top-notch security solution that enhances coverage, hygiene, and automation across the enterprise's entire cloud footprint.
SentinelOne, Inc. Price and Consensus
SentinelOne, Inc. price-consensus-chart | SentinelOne, Inc. Quote
Strong Partner Base Aids Prospects
SentinelOne shares have gained 58.4% in the past six months, outperforming the Zacks Computer & Technology sector’s increase of 7.9%. The outperformance can be attributed to its commitment to advancing cloud security innovation and delivering an integrated, AI-powered security platform.
In this regard, Singularity Cloud solutions remained the company’s fastest-growing solution in the third quarter of fiscal 2024.
SentinelOne’s growth, surpassing 11,500 clients by third-quarter fiscal 2024, is fueled by its expanding clientele through ongoing partnerships with Secureworks (SCWX - Free Report) , Chubb (CB - Free Report) and ServiceNow (NOW - Free Report) , enhancing cybersecurity, end-to-end threat detection and automated response solutions.
SentinelOne and Secureworks recently collaborated on a global go-to-market program, leveraging the integration of Taegis ManagedXDR and SentinelOne’s Singularity Complete solution to streamline risk management, enhance threat detection and make advanced cybersecurity solutions more accessible to enterprises.
In September, SentinelOne and Chubb 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.
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’s strong portfolio and partner base are contributing to its growth prospects continuously and driving top-line growth.
SentinelOne, which currently carries a Zacks Rank #2 (Buy), expects fourth-quarter fiscal 2024 revenues to be $169 million, indicating year-over-year growth of 34%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for fiscal fourth-quarter revenues is pegged at $169.51 million, suggesting 34.42% growth year over year.
For the fiscal 2024, the company expects total revenues to be $616 million, indicating growth of 46% from fiscal 2023 levels. The Zacks Consensus Estimate for fiscal 2024 revenues is pegged at $616.49 million, suggesting a 46.03% surge year over year.