Alarum price target lowered to $11 from $13 at Alliance Global Partners

Alliance Global Partners lowered the firm’s price target on Alarum (ALAR) to $11 from $13 and keeps a Buy rating on the shares. The firm notes Alarum reported Q1 revenue of $7.1M, down 15% year-over-year and just below its $7.3Mestimate reflecting challenges in the data scraping market. After three consecutive quarters of lower usage of its data collection solution, the second quarter revenue guidance of $7.9M reflects a re-acceleration in demand, Alliance Global adds. Furthermore, the firm believes the company’s relatively new website unblocker solution is being met with enthusiasm given the industry challenges.