Alliance Global Partners raised the firm’s price target on Alarum (ALAR) to $15 from $11 and keeps a Buy rating on the shares after management increased its Q2 revenue target just 10 days after providing guidance as several customers significantly increased their consumption in June. The firm believes the increased demand stems from adjustments to Alarum’s data collection solution to account for the recent changes to Google (GOOGL) algorithms and estimates Alarum could generate as much as $10.5M of revenue during Q3 should consumption be sustained at the June run-rate, the analyst tells investors.
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