S - SentinelOne: Singularity And Purple AI Opportunities Seem Already Priced In

2024-02-20 23:56:48 ET

Summary

• Trading at around $29.5 at the time of writing, SentinelOne is far below its post-IPO high of $78, signifying that many investors are still underwater.
• S stock has recouped some of its losses since November last year after announcing a partnership with Alphabet's owned Mandiant.
• The agreement covers cybersecurity threats in near-real time for the Company's Singularity platform, and there is also Purple AI, which can potentially boost revenues.
• The 66% upside since the partnership was announced shows that the market seems to have already priced in the opportunities.
• A lot now depends on the execution, which explains my Hold position.

SentinelOne ( S ) is a high-profile tech name that went public in June 2021 after its endpoint protection managed to detect and block a key threat actor that had breached some of the U.S. government agencies' IT systems as part of the SolarWinds SUNBURST hack in December 2020. The stock eventually surged to $78 and is now trading at around $29.5 implying that many investors are still underwater....

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