Is SentinelOne Stock a Buy Now?
SentinelOne (NYSE: S) posted its fiscal 2023 first-quarter (ended April 30) earnings report on June 1. The cybersecurity company's revenue surged 109% year over year to $78.3 million, which beat analysts' estimates by $3.6 million.
Its adjusted net loss widened from $48.5 million to $57.0 million, or $0.21 per share, but still exceeded the consensus forecast by $0.03. On a generally accepted accounting principles (GAAP) basis, its net loss widened from $62.6 million to $89.8 million.
SentinelOne's stock initially rallied after that earnings beat, but it remains nearly 30% below its IPO price of $35. Should investors take a chance on this growing -- but deeply unprofitable -- cybersecurity company right now?
Source Fool.com
