SentinelOne Stock: SentinelOne Earnings Beat Estimates, Shares Fall On Outlook

SentinelOne (S) on Tuesday reported a smaller-than-expected loss for the fourth quarter while revenue edged by Wall Street targets. The cybersecurity firm’s full-year fiscal 2024 revenue outlook for SentinelOne stock fell short of estimates.

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For the quarter ending Jan. 31, Mountain View, Calif.-based SentinelOne reported an adjusted loss of 13 cents a share vs. a 17-cent loss a year earlier. Also, the SentinelOne earnings report showed revenue rose 92% to $126.1 million.

Analysts expected SentinelOne to report revenue of $124.7 million and a loss of 16 cents a share.

Annual recurring revenue from subscription-based services rose 88% to $548.7 million versus estimates of $545.7 million.

SentinelOne Stock Guidance

For the current quarter ending in April, SentinelOne predicted revenue of $137 million, in line with estimates. Meanwhile, for full-year fiscal 2024, the company forecast revenue of $635.5 million, well below estimates of $650 million.

SentinelOne earnings were released after the market close Tuesday. Shares pared losses and were down 0.6% to 14.39 in extended trading on the stock market today. Further, SentinelOne stock had retreated nearly 4% in 2022.

SentinelOne recently lost two top executives to rival CrowdStrike Holdings (CRWD). But it forged a partnership with fast-growing cybersecurity firm Wiz.

Heading into the SentinelOne earnings report, the cybersecurity stock owned a Relative Strength Rating of only 11 out of a best-possible 99, according to IBD Stock Checkup.

The cybersecurity firm’s software detects malware on laptops, mobile phones and other “endpoints” that access corporate networks. Also, it’s building a broad, threat-detection cybersecurity platform.

Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.

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