Is This Cybersecurity IPO a Buy?

The attention garnered by initial public offerings (IPOs) and the rising demand for cybersecurity came together in the recent IPO of SentinelOne (NYSE: S). The company went public on June 30 at an IPO price of $35 per share, and trades around $52 at the time of this writing.

SentinelOne operates in a rapidly expanding industry. Research firm Gartner estimates worldwide spending on IT security and risk management will hit $150.4 billion this year, up from $133.8 billion in 2020. The size and strong growth of the industry has led to a bevy of publicly traded cybersecurity companies. There's no shortage for an investor to choose from.

But does SentinelOne stand out as a solid long-term investment? Or should you skip this latest entrant in the crowded cybersecurity field?

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Source Fool.com