Alarum price target raised to $23 from $20 at Alliance Global Partners

Alliance Global Partners raised the firm’s price target on Alarum (ALAR) to $23 from $20 and keeps a Buy rating on the shares. The company’s Q3 results were better than expected, the analyst tells investors in a research note. The firm says the 6.6% year-over-year growth in Q3 understates Alarum’s “strengthening demand” given that a challenged industry led to a handful of customers mostly ending their usage of Alarum’s software, leading to an abnormally high amount of revenue churn.