Citi has lifted its price target on SentinelOne (S) to $25 from $20, despite maintaining its Neutral rating. Citi US software equity research co-head Fatima Boolani joins Catalysts to break down the move and dig into SentinelOne's latest earnings report.

"Everything we heard from SentinelOne yesterday was very much around building up the kind of anticipation and optimism around, 'Hey, this is an opportunity as an underdog of smaller scale in this market for us to rise to the occasion,'" Boolani explains. After the CrowdStrike update that caused global IT outages, SentinelOne is looking to gain more market share — especially with dissatisfied CrowdStrike customers.

"We think it's mostly going to be a show-me story here as opposed to kind of positive vibes around outsized market share capture. So we're more on the sidelines to see more evidence that they are taking more than their fair share of these disaffected customers that they are gearing up to grab," Boolani adds.

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This post was written by Melanie Riehl