Alarum price target raised to $27 from $22 at Canaccord

Canaccord analyst Kingsley Crane raised the firm’s price target on Alarum (ALAR) to $27 from $22 and keeps a Buy rating on the shares. The firm noted Alarum reported Q2 results within the guided ranges as the company continues to invest in expanding its network capacity as well as hire key developer talent. Perhaps more important than the Q2 results was the Q3 guidance implying 78% yoy growth and overall constructive commentary on large AI-driven customer engagements.