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Cowen analyst Shaul Eyal initiated coverage of SentinelOne with an Outperform rating and $60 price target. SentinelOne's platform is becoming a major shield against network attacks given a sophisticated AI/ML driven approach, Eyal tells investors in a research note. By FY24 the analyst believes SentinelOne could attain revenue and ARR goals of ~$500M and ~$700M, respectively, while showing profitability improvements.

Needham analyst Alex Henderson initiated coverage of SentinelOne with a Buy rating and $58 price target. The analyst is positive on the company's AI automation and "machine speed response" as SentinelOne has built a strong and extensible platform that has an advanced API driven, micro-services based, multi-tenant architecture. Henderson adds that this technology should allow SentinelOne to add new services, integrate efficiently with other technology platforms, and tie into the MSSP service sector.

UBS analyst Roger Boyd initiated coverage of SentinelOne with a Buy rating and $60 price target. The analyst is positive on the company's "exceptional technology" as well as its large market opportunity.

Morgan Stanley analyst Hamza Fodderwala initiated coverage of SentinelOne with an Overweight rating and $56 price target. SentinelOne provides an adaptable, data-driven approach to security with its AI-powered "XDR" platform, which is needed given the rapid shift towards digitization and remote work has significantly expanded the attack surface area, Fodderwala tells investors. The analyst sees rapid ARR growth for the company over the next several years given rising demand.

Loop Capital analyst Yun Kim initiated coverage of SentinelOne with a Buy rating and $60 price target. The company represents one of the fastest growth stories in software today at 76% revenue CAGR estimated over the next three years, the analyst tells investors in a research note. Kim adds that his positive outlook on SentinelOne is driven by the "urgent need" of enterprises to replace legacy anti-virus endpoint solution that is no longer effective against today's more sophisticated cyberattacks as well as the recent work-from-home trend that is increasing not only the number of endpoints but also the need to secure and manage them outside of the corporate network.

Deutsche Bank analyst Patrick Colville initiated coverage of SentinelOne with a Buy rating and $54 price target. The analyst sees SentinelOne benefiting from the incremental dollars flowing into endpoint security, where he forecasts spend to rise 21% annually through 2024.

Wells Fargo analyst Andrew Nowinski initiated coverage of SentinelOne with an Overweight rating and $55 price target. The analyst believes SentinelOne is one of the top two vendors in the endpoint security market and that it is well positioned to take share from both the legacy and next-generation vendors.

BTIG analyst Gray Powell initiated coverage of SentinelOne with a Buy rating and $61 price target. While the stock looks "admittedly expensive" relative to its security space peers, it should be able to maintain "hyper growth" for at least the next five years and probably longer, the analyst tells investors in a research note. SentinelOne's core corporate endpoint security target market is unique in that it is experiencing elevated demand trends and also migrating away from legacy solutions, which creates a "very big opportunity" for the company to gain market share, Powell adds.

Piper Sandler analyst Rob Owens initiated coverage of SentinelOne with a Neutral rating and $48 price target. The analyst is optimistic around the company's growth potential and market opportunity but the current valuation leaves him sidelined.

BofA analyst Tal Liani initiated coverage of SentinelOne with a Buy rating and $62 price target. The analyst cites the company's "impressive" revenue growth in 2020 with 62% growth in customer additions and a "strong upsell" in new products. Liani expects SentinelOne to generate about 70% in annual growth rate for the next few years, driven by agent expansion, platform upselling, module cross-selling, as well as total addressable market expansion opportunities in adjacent markets.