- 增長: 👍👍👍👍👍👍
- 估值: 👍👍👍👍
- 競爭力: 👍👍👍👍👍
- 預估1年內股價升幅: 30% to 70%
- 業務簡介: end point 雲端網絡保安
- SentinelOne (S) 從事 end point 網絡保安，與Crowdstrike(CRWD)屬同一個 subsegment，為直接競爭對手。公司的競爭優勢在於更強及更自動化的AI ，能更有效及成功地偵測潛在的網絡攻擊。此外，更容易及具彈性的安裝及運作，以及對containers and serverless workloads 的支持也是其競爭優勢。
- 然而，不足之處是作為後上競爭者，S於配套服務，功能和 sensors 覆蓋上有所不足。以下是 IT 諮詢公司Gartner 對 SentinelOne的強弱項總結:
- SentinelOne customers cite ease of deployment, excellent timeliness and quality of customer support, and effective protection, all of which score highly in this analysis and are reflected in the rating for its products and service in this year’s Magic Quadrant.
- As the solution has been reengineered to leverage a microservices architecture, this provides flexible hosting options to suit all customers and rapid/frequent functionality updates.
- SentinelOne added support for containers and serverless workloads, especially Kubernetes dynamic workloads, with additional runtime protection and simplified deployment for these.
- SentinelOne achieved a strong showing in the MITRE Phase 2 evaluations, with consistent identification of tactics and techniques as well as high detection rates with few misses.
- While SentinelOne has focused on third-party integrations into the Singularity console, its own range of sensors is not as comprehensive as other XDR platforms, and SentinelOne does not have its own network security sources to add, though it has device discovery via Ranger.
- Though SentinelOne has its own Vigilance MDR solution, third-party managed service providers (MSPs) and an expanded network of resellers, SentinelOne does not yet score as highly as some of the Magic Quadrant Leaders in range and reach of its managed services.
- New SentinelOne customers migrating from other enterprise solutions will miss add-ons like fully featured DLP and other extras that are not offered.
- SentinelOne provides a hybrid mode for customers with air-gapped and on-premises management requirements; but unless the endpoint agents can forward telemetry to the cloud, the solution will lack advanced analytics and threat hunting.
- 公司最近的positive newsflow 較多，反映業務擴展進取，計有:
- 把其應用嵌入 ServiceNow (NOW)應用中: SentinelOne Integrates with ServiceNow to Unify IT and Security – SentinelOne
- 宣佈更多 business partnership，補足在例如Zero Trust方面的不足: SentinelOne Expands Partner Ecosystem with New Zero Trust, CNAPP, Patch Management, and Threat Simulation Integrations – SentinelOne
- 深化與Amazon 在AWS雲平台的合作: SentinelOne Extends Support for Amazon Inspector, Amazon EKS Anywhere, and Amazon ECS Anywhere – SentinelOne
- 取得大會計事行KPMG作為客戶: KPMG LLP Utilizes SentinelOne for Cyber Incident Response Services – SentinelOne
- 作為半新股，S 剛過去的兩個季度交出亮麗季績，3Q22的營業額按年(yoy)/按季增長(qoq)分別達128%/22%。Net retention rate 改善至130%，10萬美元以上ARR (annual recurring revenue)客戶數目同比增140%。然而，公司的高增長頗大程度是因比較基數低，且在可見將來不會 breakeven。
- 管理層給4Q22E 開出的 revenue guidance 為6,100萬美元，我認為不算十分鼓舞。假設 revenue guidance beat 為7%，4Q22E 的營業額 yoy/qoq 增長分別放慢至 118%/17%。而22年度全年(1月份年結)計營業額增長為119%。以15%至16%的按季增長 run rate 計，初步估算23年度的營業額增長86%，下半年度的營業額增長放慢至80%以下。公司的擴展及業務展望令人有些憧憬，但最好觀察多一兩次季績再作決定。
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