SentinelOne hits 7-month high as Piper Sandler upgrades to 'overweight'
Updates
** Shares of cybersecurity firm SentinelOne S.N up 2.2% at $26.21, touching a seven-month high
** Piper Sandler upgrades to "overweight" from "neutral"; also raises PT to $32 from $25
** Says estimates are too low over the next 4-6 quarters for one of the fastest-growing names in all of software
** Sees three catalysts - an expanded partnership with Lenovo, an uptick in displacements from competitor CrowdStrike CRWD.O, and traction with Purple AI - driving revenue in the near term
** CRWD's faulty software update had caused a global IT outage in July, causing disruption and frustrating customers; brokeragebelieves SentinelOne will benefit from this churn
** Twenty-four out of 33 brokerages rate SentinelOne"buy" or higher, 9 "hold"; their median PT is $29 - data compiled by LSEG
** Including session's gains, stock down 4.3% YTD
Reporting by Sukriti Gupta in Bengaluru
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