Alliance Global downgraded Alarum to Neutral from Buy with no price target, noting that the FBI is investigating whether NetNut had a role in linking customers' home internet devices without their consent into a network that people can use to disguise their locations. The firm, which now forecasts revenue to be $43M in 2026, down from $49M previously forecast, and $41M in 2027, down from $63M previously projected, is moving to the sidelines until having more information on the outcome of the FBI investigation and the impact of the company's fundamentals.
