5 Best New Tech Stocks to Buy Now

1. SentinelOne, Inc. (NYSE: S)

IPO Date: June 30, 2021 

No. of Hedge Funds Having Stakes in the Company: N/A

SentinelOne, Inc. (NYSE: S) is an American cybersecurity company that performs with autonomous technology and is based in California, U.S. The company’s Singularity Platform is used to defend against cyberattacks and performs at a faster pace. SentinelOne, Inc. (NYSE: S) launched its IPO on June 30 and raised $1.2 billion, one of the largest IPOs of the cybersecurity industry.

In 2020, SentinelOne, Inc. (NYSE: S) reported earnings of over $93 million, up from $46.4 million in 2019. The company’s customer base grew by 62% in 2020. In the first quarter of 2021, SentinelOne, Inc. (NYSE: S) presented a 108% year-over-year revenue growth at $37.4 million. This revenue growth was appreciated by BofA, which lifted its price target on SentinelOne, Inc. (NYSE: S) to $62, with a ‘Buy’ rating on the shares in July. Morgan Stanley also suggested the rapid growth in ARR over the next years and keeps an ‘Overweight’ rating on the stock, with a $56 price target. The stock has gained 18.42% since its IPO.

You can also take a look at 10 Best Tech Stocks To Buy Now According To Billionaire Laffont and 10 Best Biotech Stocks Under $6 in 2021.

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