SentinelOne rises as Canaccord upgrades to "buy" after selloff
** SentinelOne's S.N stock rises 2.9% to $17.72 premarket after Canaccord Genuity raises cybersecurity firm to "buy" from "hold", saying recent selloff "well overdone"
** Canaccord says views SentinelOne as long-term secular winner given positioning as a data-driven security platform, facilitated by its roots in endpoint security and strong position in mid-market enterprise
** Upgrade based on recent rundown in the stock and co's improved execution in the last few qtrs, Canaccord says
** S lost ~13% on Fri after co trimmed FY rev forecast to $808-$815 mln, just south of Street expectations of $816.8 mln
** Canaccord cuts PT by $5 to $23 based on shares trading at roughly 7x EV/sales on its lowered fiscal 2026/calendar 2025 estimates
** Now, 19 of 32 brokerages rate S "strong buy" or "buy", rest "hold", per LSEG
** Median PT of $23 down from $29 a month ago
** Through Mon close, S off ~37% YTD
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
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