Selected stock price target news of the day - August 28th, 2024

By: Matthew Otto

SentinelOne Exceeds Q2 Expectations, Aligns Future Guidance with Analyst Estimates

SentinelOne delivered its financial results for the second quarter of fiscal year 2025, reporting earnings per share (EPS) of $0.01, surpassing the analyst estimate of $0.00. The revenue for the quarter reached $198.9 million, exceeding the consensus estimate of $197.31 million..

Revenue for the quarter grew by 33% year-over-year, with annual recurring revenue (ARR) increasing by 32%. SentinelOne also saw gross margins of 80% and an operating margin close to breakeven.

Looking ahead, SentinelOne forecasts Q3 2025 revenue of $209.5 million, matching the consensus estimate, and has projected full fiscal year 2025 revenue to be approximately $815 million, slightly above the consensus estimate of $813 million.

Analysts Adjust Targets Following Q2 Results and Updated Guidance

WestPark Capital analyst Casey Ryan reiterated a Buy rating and a price target of $34.
Bernstein analyst Peter Weed kept an Outperform rating but lowered the price target from $37 to $32.
Needham analyst Alex Henderson reiterated a Buy rating and his price target of $29.
Wedbush analyst Taz Koujalgi maintained an Outperform rating and raised the price target from $20 to $30.
Baird analyst Shrenik Kothari continued with an Outperform rating while increasing the price target from $25 to $29.

Which Analyst has the best track record to show on S?

Analyst Saket Kalia (BARCLAYS) currently has the highest performing score on S with 14/17 (82.35%) price target fulfillment ratio. His price targets carry an average of $1.44 (5.86%) potential upside. SentinelOne stock price reaches these price targets on average within 68 days.

Ambarella Beats Q2 Estimates, Forecasts Strong Q3 Growth

Ambarella reported financial results for the second quarter of fiscal year 2025, posting a non-GAAP earnings per share (EPS) loss of $0.13, which was $0.06 better than the analyst estimate of a $0.19 loss per share. Revenue for the quarter came in at $63.72 million, surpassing the consensus estimate of $62.1 million and reflecting a 17% increase and a 3% year-over-year growth.

Ambarella’s non-GAAP gross margin stood at 63.3%, slightly above its guidance midpoint. Despite these gains, Ambarella reported a non-GAAP net loss of $5.5 million. Cash and marketable securities increased by $16.5 million from the previous quarter, totaling $219.8 million, which amounted to $16.7 million for the quarter.

For the third quarter of fiscal year 2025, Ambarella provided revenue guidance in the range of $77 million to $81 million, higher than the consensus estimate of $68.999 million. Ambarella anticipates a non-GAAP gross margin between 62.5% and 64% and projects non-GAAP operating expenses to range from $49 million to $51 million. Additionally, Ambarella expects net interest income to be around $1.8 million, with a non-GAAP tax expense of approximately $500,000.

Analysts Adjust Ratings and Price Targets Following Q2 Report

WestPark Capital analyst Kevin Garrigan reiterated a Buy rating and a price target of $85.
TD Cowen analyst Matthew Ramsay kept a Hold rating but raised the price target from $65 to $75.
Needham analyst Quinn Bolton reaffirmed a Buy rating and a price target of $90.

Which Analyst has the best track record to show on AMBA?

Analyst Joseph Moore (MORGAN STANLEY) currently has the highest performing score on AMBA with 19/31 (61.29%) price target fulfillment ratio. His price targets carry an average of $8.74 (15.00%) potential upside. Williams-Sonoma stock price reaches these price targets on average within 138 days.

nCino Exceeds Q2 Revenue and EPS Estimates; Provides Slightly Lower Guidance for Q3

nCino reported its second quarter fiscal 2025 financial results, achieving earnings per share (EPS) of $0.14, surpassing the analyst estimate of $0.13. Revenue for the quarter reached $132.4 million, beating the consensus estimate of $131.06 million.

Subscription revenues comprised $113.9 million of this total, reflecting a 14% increase year-over-year and accounting for 86% of total revenues. The non-GAAP operating income for the quarter was $19.3 million, compared to $11.2 million in the same period last year, resulting in a non-GAAP operating margin of 15%. Non-GAAP net income was $15.8 million, or $0.14 per diluted share, up from $10 million, or $0.09 per diluted share in Q2 of fiscal 2024.

nCino’s international revenues grew by 25% year-over-year to $27.5 million, constituting 21% of total revenues. The company reported a 12% increase in its remaining performance obligation (RPO) to $1.04 billion, with $698 million in the less than 24-month category, up 10% from the previous year.

Looking ahead, nCino forecasts third-quarter fiscal 2025 EPS between $0.15 and $0.16, slightly below the consensus estimate of $0.16. Revenue guidance for Q3 is projected at $136 million to $138 million, compared to the consensus estimate of $138.6 million.

For the full fiscal year, nCino maintains its revenue guidance of $538.5 million to $544.5 million and expects non-GAAP operating income to range from $87 million to $90 million. The company ended the quarter with $126.8 million in cash and cash equivalents, and reported net cash provided by operating activities of $5 million.

Analysts Provide Mixed Reactions Following Earnings Report

Stephens & Co. analyst Charles Nabhan reiterated an Equal-Weight rating and a $35 price target.
Needham analyst Mayank Tandon kept a Buy rating but lowered the price target from $42 to $40.
Piper Sandler analyst Brent Bracelin maintained an Overweight rating and the price target at $38.

Which Analyst has the best track record to show on NCNO?

Analyst Charles Nabhan (STEPHENS) currently has the highest performing score on NCNO with 8/8 (100%) price target fulfillment ratio. His price targets carry an average of $4.89 (16.24%) potential upside. nCino stock price reaches these price targets on average within 71 days.