Alliance Global Partners analyst Brian Kinstlinger lowered the firm’s price target on Safe-T Group to $5.50 from $20 and keeps a Buy rating on the shares post the Q3 results. The lower multiple reflects the "challenging capital market conditions for micro-cap companies that are burning cash," Kinstlinger tells investors in a research note. The analyst thinks Safe-T can sustain about 25% year-over-year revenue growth "but would require additional capital in order to grow faster."
Published first on TheFly
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