S - This Artificial Intelligence (AI) Stock Is Down 38% in 2024. Should Investors Start Buying It Hand Over Fist Right Away?
2024-06-07 13:15:00 ET
SentinelOne (NYSE: S) investors have endured a terrible 2024 so far as shares of the cybersecurity specialist have plunged 38%. The company's latest results for the first quarter of fiscal 2025 (for the three months ended April 30) also have added to the gloom.
The company's shares crashed over 13% in a single session following its quarterly report, even though it beat Wall Street's top- and bottom-line expectations handsomely. Let's see why that was the case and check if new cybersecurity growth drivers, such as artificial intelligence (AI) , can help supercharge the company's growth.
The company's fiscal Q1 revenue increased 40% year over year to $186.4 million, beating the consensus estimate of $181.1 million. Additionally, it broke even on the bottom line on a non- GAAP basis, compared to a loss of $0.15 per share in the year-ago period. Analysts were expecting a $0.05 per-share loss.
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This Artificial Intelligence (AI) Stock Is Down 38% in 2024. Should Investors Start Buying It Hand Over Fist Right Away?