Why SentinelOne Stock Is Sinking Today
SentinelOne (NYSE: S) stock is losing ground in Thursday's trading. The cybersecurity company's share price was down 9.2% as of noon ET. Meanwhile, the S 500 (SNPINDEX: ^GSPC) was flat, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) was up 0.1%.
After the market closed yesterday, SentinelOne published its third-quarter earnings results. While the company posted sales that beat Wall Street's target, it also posted a wider-than-anticipated loss -- and management's forward guidance appears to have underwhelmed investors.
SentinelOne posted a loss of $0.25 per share on sales of $210.6 million in the third quarter. For comparison, the average analyst estimate had called for a loss of $0.20 per share on sales of roughly $209.7 million. Revenue was up approximately 28% year over year in the quarter, and the business closed out the period with its first positive free cash flow across a trailing-12-month (TTM) stretch.
Source Fool.com
