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AI stock SentinelOne is trying to break out past its latest entry following a 53% plunge in its stock price, and a big subsequent rebound.

MOUNTAIN VIEW, Calif. & LAS VEGAS--(BUSINESS WIRE)---- $S #AI--SentinelOne® (NYSE: S), a global leader in AI-powered cybersecurity, today unveiled a suite of innovations designed to deliver on the vision of the Autonomous Security Operations Center (SOC). Built on SentinelOne's market-leading Singularity™ cybersecurity platform, these innovations empower security leaders to reimagine and revolutionize how they respond to emerging threats in ways that significantly reduce risk, speed decision making and fr.

SentinelOne Inc S shares have been in focus with the growing cybersecurity concerns among businesses.

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The cybersecurity company is thriving amid increasing demand for protection.

SentinelOne's robust 2Q24 earnings highlight strong sales, gross profit growth, and improved gross margins, positioning it as a compelling investment. SentinelOne's ARR grew 32% YoY, with potential to reach $1 billion next year, showcasing strong recurring revenue momentum. Despite higher operating expenses, SentinelOne's gross profit growth outpaces expenses, enhancing operating leverage and profitability prospects.

SentinelOne's ARR grew 32%, driven by strong new business generation, with net new ARR exceeding expectations by a double-digit percentage. The company achieved its first net income positive quarter, with record gross and operating margins, and strong free cash flow. SentinelOne is benefiting from increased customer interest following the CrowdStrike outage, although conversion will take time due to long sales cycles.

SentinelOne's unique AI-enabled technology in endpoint protection and strategic expansion into cloud and analytics position it well to capture growing cybersecurity market opportunities. Despite not being consistently profitable, SentinelOne's strong growth potential and competitive edge justify its EV/Sales of 8.61x. Profitability is expected next year, with sell-side EBITDA consensus of $54m. Management recently voiced concerns over vendor concentration and the importance of platform architecture, but didn't comment on whether the CrowdStrike's outage in July helped win new contracts.

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)---- $S #AI--SentinelOne® (NYSE: S), a global leader in AI-powered security, today announced that it was named a Leader in the 2024 Gartner® Magic Quadrant™ for Endpoint Protection Platforms (EPP) for the fourth consecutive year. The report comes as SentinelOne's AI-powered Singularity Platform rapidly gains market share and customer traction in the endpoint security market and beyond. “We believe being recognized as a Leader in the Gartner Magic Quadrant for EPP for.

SentinelOne, Inc. stock has performed strongly as of late, likely due to Crowdstrike's technical outage and a new deal with Lenovo. The company boasts a net cash balance sheet and improved non-GAAP profit margins, including achieving its first-ever quarter with non-GAAP net profitability. Despite not raising full-year guidance, SentinelOne's de-risked targets and potential tailwinds from the CRWD incident make it a compelling buy.