Cybersecurity firm SentinelOne jumps in aftermath of CrowdStrike outage
** Shares of cybersecurity companies rise in early trading, extending Friday's gains
** SentinelOne S.N rises ~10% to $24.02; stock hit over four-months high earlier in session
** However, CrowdStrike CRWD.O extends Friday's losses, down ~12% at a six-month low of $267.33; several analysts cut ratings and PTs on stock following global tech outage which tainted reputation
** A software update by CRWD on Friday resulted in a major global IT glitch, with impact felt across various industries like airlines, media, banks and customers; services resumed later in day
** Specialized peers like SentinelOne can leverage this reputational hit to their advantage, with shifting focus back to best-of-breed solutions to sidestep the dangers of single-vendor dependency - Baird
** Palo Alto Networks PANW.O and ZScaler ZS.O each rise 0.2%
** Amplify Cybersecurity ETF HACK.N up ~5.4% YTD, compared with a ~16% rise in S&P 500 .SPX index
Reporting by Roshan Abraham
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