5 Best Stocks to Buy According to Billionaire Dan Loeb

3. SentinelOne, Inc. (NYSE:S)

Third Point Stake: $491,769,000

Percentage of Third Point’s Portfolio: 11.64%

Number of Hedge Fund Holders: 26

SentinelOne, Inc. (NYSE:S) is a cybersecurity solutions provider. Dan Loeb reduced his exposure to SentinelOne, Inc. (NYSE:S) during the second quarter of 2022 by 20%. The fund held 21,078,846 shares of the company at the end of Q2 2022.

On October 06, 2022, Carson Sippel, an analyst at SMBC Nikko Securities, started coverage of SentinelOne, Inc. (NYSE:S) with a price target of $30. The analyst is currently Neutral on the company’s stock. Although the analyst believes that the company is in a strong position to achieve growth and increase its revenue substantially by the fiscal year 2025, the macro-environment remains uncertain, which is why he is currently initiating coverage of the company with a Neutral rating.

Here is what ClearBridge Investments SMID Cap Growth Strategy has to say about SentinelOne, Inc. (NYSE:S) in its Q4 2021 investor letter:

We added six new positions in the fourth quarter. We see next-generation cybersecurity provider SentinelOne, although early in its growth lifecycle, as capable of taking share from legacy players in the antivirus and broader cybersecurity industry.