| Thursday | ||||
HSBC analyst Rahul Chopra… HSBC analyst Rahul Chopra initiated coverage of Darktrace with a Buy rating and 450 GBp price target. With cyberattacks growing in number and sophistication, spending on cybersecurity is only expected to grow, the analyst tells investors in a research note. The firm views the company as an attractive way to play the cybersecurity theme. | ||||
| Over a month ago | ||||
Stifel analyst David… Stifel analyst David Vignon downgraded Darktrace to Hold from Buy with a 250 GBp price target. The company has failed since its initial public offering to alleviate investor concerns, the analyst tells investors in a research note. The firm believes Darktrace needs to take more proactive steps to reassure investors, including replacing some management and electing more independent board members. "More hits are likely to follow," the analyst writes. | ||||
Virtual Meeting to be… Virtual Meeting to be held on January 30 hosted by Piper Sandler. | ||||
Morgan Stanley analyst… Morgan Stanley analyst George Webb upgraded Darktrace to Overweight from Equal Weight with a price target of 410 GBp, down from 425 GBp. The analyst views the company's broader growth story as intact and believes the stock's valuation is now "sufficiently cheap." | ||||
Virtual Meeting to be… Virtual Meeting to be held on January 30 hosted by Piper Sandler. | ||||
Piper Sandler analyst Rob… Piper Sandler analyst Rob Owens lowered the firm's price target on Darktrace to 385 GBp from 450 GBp and keeps an Overweight rating on the shares. The analyst continues to see multiple opportunities across his software universe, saying valuations appear "relatively de-risked and underlying trends prove resilient." However, he believes there is still more bad news to come, especially on the economic front. As such, 2023 "potentially sets up as a stock picker's year," Owens tells investors in a research note. His top five ideas include Okta (OKTA), Palo Alto (PANW), Crowdstrike (CRWD), ServiceNow (NOW) and CyberArk (CYBR). | ||||
| Over a quarter ago | ||||
Redburn analyst Nina… Redburn analyst Nina Marques initiated coverage of Darktrace with a Buy rating and 550 GBp price target. Darktrace, with its differentiated AI platform, is "the leader in next-gen automated network detection, response and investigation," Marques tells investors. At its current market cap, Darktrace remains a potential target for takeover by either larger vendors looking to add capabilities or private-equity investors, the analyst added. | ||||
Morgan Stanley analyst… Morgan Stanley analyst George Webb initiated coverage of Darktrace with an Equal Weight rating and 425 GBp price target. The analyst is positive on the company's position as a key emerging cybersecurity vendor with an expanding AI/ML-centric product set. Webb adds that Darktrace's "rapid pace of innovation" represents a competitive edge for the company, though he also sees much of the positive base case growth reflected in the stock's valuation. | ||||
Darktrace announced that… Darktrace announced that it has expanded its customer base across the critical infrastructure sector, signing contracts with new customers in several regions. Darktrace's new customers in this sector include: A global maritime trade organization serving over 100 countries; A major oil refinery in Scandinavia with several hundred employees; A European science organization focused on global renewable energy projects; A UK-based waste management company operating a fleet of over 100 vehicles; A US-based wholesale electrical distributor founded over 100 years ago. "Critical infrastructure forms the backbone of our economies, delivering the vital services that help society to function. Any interruption to these services has immediate repercussions on people's day- to-day lives," said Poppy Gustafsson OBE, CEO at Darktrace. "We are proud to be protecting even more of these organizations as we continue to pursue our mission of freeing the world of cyber disruption, using our AI technology to ensure vital services can run uninterrupted for the millions of people that depend on them." | ||||
Jefferies analyst Charles… Jefferies analyst Charles Brennan resumed coverage of Darktrace with a Buy rating and 615 GBp price target. Ending the bid process with Thoma Bravo "creates some short-term volatility," but it should enable investors to focus on the core fundamentals of a business executing well, Brennan tells investors in a research note. The analyst says Darktrace has leading technology in a "very attractive end market with a building reputation for guidance conservatism." | ||||
