SentinelOne downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley downgraded SentinelOne (S) to Equal Weight from Overweight with an unchanged price target of $29. The firm says that while positive on long-term tailwinds in security, it is being more selective into 2025 given a “stable but still tough” spending environment, less favorable U.S. fiscal backdrop and valuation premium versus broader technology. It cites slower expected demand for core endpoint security in 2025 and the continued challenging competitive and pricing environment for the downgrade of SentinelOne.