SentinelOne (S) Soars on 3rd Day as Earnings Hit Expectations, Outlook Raised

We recently published 10 Stocks Skyrocket While Wall Street Sinks; 5 Quietly Hit New Record Highs. SentinelOne, Inc. (NYSE:S) is one of the top performers on Friday.

SentinelOne rallied for a third day on Friday, jumping 7.10 percent to close at $18.86 apiece as investors cheered the company’s higher growth outlook and impressive earnings performance, which fell within expectations.

In its updated report, SentinelOne, Inc. (NYSE:S) said it is now targeting full-year revenues between $998 million and $1.002 billion, higher than the $996 million to $1.001 billion expected previously.

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The outlook was supported by a strong earnings performance in the second quarter, with revenues jumping by 22 percent to $242 million from $198.9 million registered in the same period last year.

Annual recurring revenues, on the other hand, broke past the $1 billion mark, ending 24 percent higher year-on-year.

However, the said figures failed to prop up earnings, having widened its net loss by 4 percent to $72 million from $69 million year-on-year.

“Our second-quarter results highlight the momentum of our AI-powered platform, strengthening competitive position, and growing product differentiation. With relentless focus on innovations unifying AI, data, and security, SentinelOne is at the forefront of AI-powered cybersecurity—delivering high growth, driving operating leverage, and expanding our leadership in the industry,” said SentinelOne, Inc. (NYSE:S) CEO Tomer Weingarten.

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Disclosure: None. This article is originally published at Insider Monkey.