UK's Darktrace tops midcaps on forecast upgrade

Darktrace

11/04/2024 08:16

** British cybersecurity company Darktrace's  DARK.L  shares
rise nearly 7.5% to 462.98p in early trade
    ** Stock top pct gainer on mid cap index  .FTMC 
    ** Company raises annual revenue and margin forecasts for
second time in a month 
    ** Expects FY24 revenue to grow at least 25.5% vs previous
forecast range of 23.5% to 25.0%
    ** "In our view, Darktrace remains poised to outperform" -
Berenberg
    ** Brokerage increases annualised recurring revenue, revenue
and adj core profit forecasts in response, raises PT to 630p
    ** Shares up 18% YTD, as of last close

 (Reporting by Anchal Rana in Bengaluru)
 ((Anchal.Rana@thomsonreuters.com; +91 9915609050))