Shares of SentinelOne (NYSE:S) posted a massive plunge in after-hours trading after the company reported earnings for its first quarter of Fiscal Year 2024 and lowered its estimates for the full year. Earnings per share came in at -$0.15, which beat analysts’ consensus estimate of -$0.17 per share. Sales increased by 70.4% year-over-year, with revenue hitting $133.4 million. This missed analysts’ expectations of $136.61 million.
Don't Miss out on Research Tools:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
SentinelOne saw its total customer count climb 43% in the quarter, hitting just over 10,680 customers. Meanwhile, customers who were spending over $100,000 with SentinelOne jumped even higher, adding 61% and reaching a total of 917. SentinelOne’s annualized recurring revenue, meanwhile, surged up 75%, reaching $563.6 million.
Management at SentinelOne also offered some guidance. It now expects revenue for the second quarter of $141 million. As for full-year 2024 revenue, it expects between $590 million and $600 million. That’s well short of consensus estimates, which looked for $637.63 million.
Overall, Wall Street has a consensus price target of $21.82 on SentinelOne, implying 5.31% upside potential, as indicated by the graphic above.
