ZS - SentinelOne: An Undervalued Gem In A Booming Industry

2024-05-20 14:23:40 ET

Summary

• The cybersecurity industry is forecasted to reach $273.5 billion in 2028 driven by the growing threat of cyber attacks due to the rise of generative AI tools.
• I expect SentinelOne to gain market share in the coming years due to the expected improvements in its platform after integrating PingSafe and Stride Security into it.
• SentinelOne is trading at a discount compared to its peers despite witnessing higher growth rates than its competitors.
• My price target for SentinelOne is $93 by 2029, representing a 325% upside from current levels.

SentinelOne, Inc. ( S ) is one of the fastest growing cybersecurity companies in the market at the moment. The company’s topline grew by 47% in FY 2024 and expects 31% revenue growth in FY 2025 at the midpoint of its guidance, much higher than other cybersecurity companies such as CrowdStrike ( CRWD ), Palo Alto Networks ( PANW ), Fortinet ( FTNT ), Datadog ( DDOG ), and Zscaler ( ZS )....

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