According to Zhixin Finance, investment firm Baird stated that SentinelOne (S.US) will release its quarterly results after post-market trading on Tuesday. Recent channel surveys show improved sentiment and favorable prospects. Baird analyst Shrenik Kothari gave SentinelOne an 'outperform' rating and raised its target price from $25 to $29.

Kothari wrote in an investor report: 'Overall, our research shows solid economic performance and good prospects for this quarter. Our channel/partner survey shows that the improvement net score has increased by about 400 basis points compared to the first quarter, reaching 27.7%. It is worth noting that while endpoint security remains the core driving factor (accounting for 44% of customer transactions/discussions), cloud, data, and identity protection solutions are gaining traction, indicating broader market opportunities beyond its traditional strongholds.'

In addition, Kothari pointed out that SentinelOne has been identified as the 'biggest beneficiary' of CrowdStrike's outage, and he believes that this impact may occur in the coming quarters. Kothari also noted that in the past year, SentinelOne has increased its market share, with research firm IDC showing that the company's market share in June rose from 2.9% last year to 3.9%.

Kothari explained: 'Considering that nearly half of the endpoint market is still occupied by traditional vendors, presenting a large number of occupying opportunities, we believe that SentinelOne is well positioned as the next-generation EDR vendor and can gain meaningful market share. In addition, the recent CISA partnership highlights its growth opportunities in the federal sector.'

Analysts generally expect SentinelOne to achieve breakeven earnings per share, with second-quarter revenue estimated at $0.19738 billion.