Keep an eye on rebounding shares of SentinelOne (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 the 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.