Keep an eye on rebounding shares of SentinelOne (SYM: S).
After finding strong support at around $20, the cybersecurity stock is just starting to pivot higher. If it can break above resistance at around $24.56, it could retest $30 shortly.
Helping, Wells Fargo just upgraded SentinelOne’s stock to overweight noting, “We believe SentinelOne is gaining share, recently at the expense of CrowdStrike, which should translate into stronger revenue growth.”
“The global IT-outage from a CRWD update bug has heightened focus on S (endpoint-peer), amid revived interest in specialized best-of-breed vendors to diversify from single-vendor dependency, and that S can leverage this reputational hit to their advantage,” added analysts from Baird.
