Alarum price target lowered to $13 from $23 at Alliance Global Partners

Alliance Global Partners analyst Brian Kinstlinger lowered the firm’s price target on Alarum (ALAR) to $13 from $23 and keeps a Buy rating on the shares. The firm notes Alarum reported Q4 revenue of $7.4M and adjusted EBITDA of $1.5M, both of which were in-line with its estimates. However, the key takeaway, in its opinion, is that companies are making it more difficult to scrape data from their websites. This has resulted in reduced usage by some of Alarum’s customers and delayed decisions on new contracts as enterprises evaluate their AI and related data collection strategies, the firm says. With that said, these dynamics should lead to stronger competitive positioning for the company’s combined services of data collection bundled with its website unblocker technology, argues Alliance Global Partners.