Cybersecurity firm SentinelOne, which went public in 2021, has stated that it is not up for sale, according to CEO Tomer Weingarten. This statement comes in response to earlier reports suggesting a possible acquisition of the company. Weingarten refuted claims that SentinelOne was considering a sale, emphasizing the company’s commitment to its independent path and public trading status.
Recent reports had pointed to a potential acquisition of SentinelOne by security startup Wiz. However, Weingarten emphasized that the company’s primary focus is on innovation and customer protection. He cited the company’s impressive margin improvement and substantial growth as indicators of its strength and success.
SentinelOne’s announcement of stronger-than-expected fiscal second-quarter results led to a surge of more than 10% in its shares during extended trading. The company reported a 46% year-over-year growth in revenue, even though it was lower than the 70% growth reported in the previous quarter. Additionally, the company’s projection of $156 million in fiscal third-quarter revenue exceeded the Refinitiv consensus estimate of $154.2 million.
Weingarten underscored that remaining an independent public company is the best strategy for driving innovation and protecting customers. Despite the recent reports and market speculation, he reiterated that SentinelOne is steadfastly dedicated to pursuing its own growth trajectory.
SentinelOne competes in the cybersecurity market, offering endpoint security software that rivals solutions from CrowdStrike and VMware. The company’s partnership with Wiz remains intact, although it has concluded a reseller agreement with the startup. SentinelOne’s shares have risen approximately 14% this year, trailing behind the performance of the First Trust Nasdaq Cybersecurity ETF. CrowdStrike, which is included in the ETF, has experienced a notable increase of about 55% in its shares this year.
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