SentinelOne forecast its first-quarter and annual revenue below Wall Street estimates on Wednesday, hurt by tough competition and softer enterprise spending due to economic uncertainty, sending its shares down 16% after the bell.

Key Takeaways SentinelOne shares declined after the company's first-quarter and full-year revenue forecasts did not meet analysts' expectations.The cybersecurity company posted better than expected adjusted earnings and revenue in its fiscal fourth quarter.

For the quarter that ended on Jan. 31, SentinelOne reported adjusted earning per share of four cents, up from a loss of two cents per share in the same quarter of the previous year, on revenue of $225.5 million, up 29% year-over-year. Both figures came in ahead of the one cent per share and revenue of $222.24 million expected by analysts.