SentinelOne, Inc. (NYSE:S) shares are trading higher Friday after a failed software update from CrowdStrike Holdings, Inc. (NASDAQ:CRWD) caused global outages.
The Details:
SentinelOne shares are climbing after a failed update from CrowdStrike caused major disruptions for banks, airlines, media companies, and emergency services worldwide.
A failed update of CrowdStrike's Falcon platform Thursday night led to widespread disruptions in Microsoft Corporation (NASDAQ:MSFT) systems which had a domino effect across industries. The issue stemmed from a technical error in the software update and not a hacker attack.
SentinelOne is a cloud-based cybersecurity company specializing in endpoint protection. SentinelOne's primary offering is its AI-powered Singularity platform for detecting and responding to security threats attacking IT infrastructure.
According to data from Benzinga Pro, SentinelOne shares have gained more than 17% over the past month and are trading higher on heavy volume Friday as investors consider the broad importance of cybersecurity.
SentinelOne Stock Prediction 2024:
Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.
Shares of SentinelOne have an average 1-year price target of $24.29, representing an expected upside of 16.22%.
Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on SentinelOne, while 14 analysts have bullish ratings. The street high price target from WestPark Capital is $34, while the street low from Scotiabank is $18.
S Price Action: According to Benzinga Pro, SentinelOne shares are up 8.34% at $21.82 at the time of publication Friday.
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