S - Why SentinelOne Stock Crashed Today
2024-03-14 10:52:27 ET
Shares of cloud-based cybersecurity company SentinelOne (NYSE: S) crashed on Thursday after the company disappointed the market with its outlook for the coming year. As of 9:50 a.m. ET, SentinelOne stock was down 13%.
For its fiscal fourth quarter of 2024 (the period that ended in January), SentinelOne beat expectations. Management guided for Q4 revenue of $169 million, but the company delivered revenue of $174 million. And while it lost $0.24 per share during the quarter, that too was better than the market expected.
The trouble relates to SentinelOne's guidance for its fiscal 2025 (the period that started in February). The company expects to generate revenue of between $812 million and $818 million, which is about a 31% increase from fiscal 2024. That's a sharp deceleration from its 47% top-line growth in fiscal 2024 and isn't good enough to please the market.
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Why SentinelOne Stock Crashed Today