Safe-T Group (NASDAQ:SFET) Upgraded at Zacks Investment Research

Safe-T Group (NASDAQ:SFETGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, Zacks.com reports. The brokerage currently has a $0.50 price target on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 2.02% from the stock’s previous close.

According to Zacks, “Safe-T Group Ltd. develops and markets software solutions. The Company offers security applications for data-related threats which includes data exfiltration, leakage, malware, ransomware and fraud. Safe-T Group Ltd. is based in Herzliya, Israel. “

Shares of SFET opened at $0.49 on Friday. The stock’s 50-day moving average price is $0.62 and its 200 day moving average price is $0.75. Safe-T Group has a 12-month low of $0.47 and a 12-month high of $1.69.

Safe-T Group (NASDAQ:SFETGet Rating) last released its quarterly earnings data on Tuesday, May 31st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Safe-T Group had a negative net margin of 118.41% and a negative return on equity of 52.47%. Analysts anticipate that Safe-T Group will post -0.33 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC increased its position in shares of Safe-T Group by 307.5% during the 1st quarter. Jane Street Group LLC now owns 43,852 shares of the company’s stock worth $41,000 after purchasing an additional 33,091 shares in the last quarter. Virtu Financial LLC increased its holdings in shares of Safe-T Group by 466.2% during the first quarter. Virtu Financial LLC now owns 75,668 shares of the company’s stock worth $62,000 after buying an additional 62,304 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Safe-T Group by 36.4% in the fourth quarter. Renaissance Technologies LLC now owns 173,181 shares of the company’s stock valued at $123,000 after acquiring an additional 46,181 shares during the last quarter. 5.94% of the stock is owned by institutional investors and hedge funds.

Safe-T Group Company Profile (Get Rating)

Safe-T Group Ltd. provides cybersecurity and privacy solutions to consumers and enterprises in Israel, the United States, Hong Kong, the Asia Pacific, and internationally. Its cybersecurity solutions comprise iShield, a cybersecurity cloud software that protects users from online threats, including phishing, malware, ransomware and others; AdBlocker, an iOS application for an ad-free internet experience; ZoneZero SDP, a solution based on software defined perimeter and zero trust network access concepts that grant access to applications on a need-to-know basis only; ZoneZero MFA, a solution designed to add centralized multi-factor authentication capabilities for various types of internal applications; and SDE, which is designed to unify various data exchange scenarios of an organization.

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