SentinelOne (S) to Report Q2 Earnings: What's in the Cards?
SentinelOne S is set to release its second-quarter fiscal 2024 results on Aug 31.
For the to-be-reported quarter, SentinelOne expects revenues of $141 million, suggesting year-over-year growth of 38%.
The Zacks Consensus Estimate for loss has been unchanged at 15 cents per share over the past 30 days. SentinelOne reported a loss of 20 cents in the year-ago quarter.
The consensus mark for fiscal second-quarter revenues is pegged at $141.49 million, indicating 38.2% growth from the year-ago quarter’s reported figure.
Notably, SentinelOne’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average earnings surprise being 18.84%.
SentinelOne, Inc. Price and EPS Surprise
SentinelOne, Inc. price-eps-surprise | SentinelOne, Inc. Quote
Let’s see how things have shaped up prior to this announcement.
Factors at Play for Q2 Results
SentinelOne’s expanding and diversified customer base is expected to have aided the company’s top line in the fiscal second quarter. During first-quarter fiscal 2024, the company added more than 700 new customers. Total customer count grew 43% year over year to more than 10,680 at quarter end.
SentinelOne is banking on a strong portfolio of cybersecurity solutions and data capabilities powered by artificial intelligence. Its Singularity platform is renowned for providing protection spanning user endpoints, cloud workloads, and identity infrastructure. The growing adoption of its Singularity Marketplace has been noteworthy and is expected to have benefited top-line growth.
Moreover, SentinelOne is riding on an expanding partner base that includes the likes of ServiceNow and Amazon Web Services, which leverages the Singularity XDR platform to provide end-to-end threat detection and automated response.
However, macroeconomic challenges are expected to have impacted the timing and the size of new enterprise deals in the fiscal second quarter.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
SentinelOne has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell) at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle:
American Eagle Outfitters AEO has an Earnings ESP of +8.52% and carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
American Eagle Outfitters is set to release its second-quarter 2023 results on Sep 6. AEO shares have gained 17.5% year to date.
Patterson Companies PDCO currently has an Earnings ESP of +5.66% and a Zacks Rank #2.
PDCO shares have returned 20.9% year to date. Patterson Companies is set to report its first-quarter fiscal 2024 results on Aug 30.
Five Below FIVE has an Earnings ESP of +1.21% and a Zacks Rank #2.
FIVE shares have gained 1.3% year to date. Five Below is set to report its second-quarter fiscal 2023 results on Aug 30.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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American Eagle Outfitters, Inc. (AEO) : Free Stock Analysis Report
SentinelOne, Inc. (S) : Free Stock Analysis Report
Patterson Companies, Inc. (PDCO) : Free Stock Analysis Report
Five Below, Inc. (FIVE) : Free Stock Analysis Report
