Alarum price target lowered to $28 from $42 at Canaccord

Canaccord lowered the firm’s price target on Alarum to $28 from $42 and keeps a Buy rating on the shares. The firm said they reported solid Q2 results with quarterly revenue of $8.9M, essentially in line with its preliminary results while noting NetNut revenue growth remains impressive which remains the core strategic focus with this asset now at 98% of total revenue. Baird lowered its estimates and target to alogn with its updated outlook and commentary.