In a report released yesterday, Kingsley Crane from Canaccord Genuity maintained a Buy rating on Alarum Technologies, with a price target of $15.00.
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Kingsley Crane has given his Buy rating due to a combination of factors that highlight Alarum Technologies’ strategic positioning and growth potential. The company has transitioned from its roots in cybersecurity to becoming a significant player in data collection and labeling, which is crucial for training large language models. This evolution positions Alarum to capitalize on the increasing demand for data in the AI sector, potentially leading to substantial revenue opportunities and long-term customer relationships with major global brands.
Additionally, Alarum’s focus on enhancing customer lifetime value and shifting towards a more recurring revenue model indicates a strategic approach to sustaining growth. The company is also investing in expanding its infrastructure and network capabilities, alongside hiring key developer and AI talent, to meet the rising demand for data services. These strategic initiatives underscore the company’s commitment to growth and innovation, supporting Crane’s optimistic outlook and Buy rating for Alarum Technologies.