Darktrace Share Price Forecast June 2021 – Good Time to Buy?
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Darktrace(LSE: DARK) has been in the news for a 55% share price increase since its share market debut in early 2021. As a company founded less than a decade ago, it generated a lot of noise when it joined the existing limited pool of cybersecurity firms listed on the London Stock Exchange, which worked in the company’s favour.
Darktrace – Technical Analysis
From the financial statement provided by Darktrace, we do not get much information. Total Assets are at £217.518 million and total debts are at £178.633 million. DARK shares are currently valued at £461.0 at the time of writing, at a downtrend of -6.56%.
Technical statistics for Darktrace reveal that oscillators like Ultimate Oscillator (7, 14, 28) (48.8), Williams Percent Range (14)(−38.6), Awesome Oscillator (107.5) and Commodity Channel Index (20)(39.5) point towards neutral while moving averages like Volume Weighted Moving Average (20)(433.6), Simple Moving Average (30)(395.4) and Simple Moving Average (20) (419.0) point towards buying.
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Recent Developments
As a company employing self–learning AI technology, Darktrace detects, investigates and responds to complex cyber threats such as data breaches, ransomware, supply chain vulnerabilities, remote working risks and inside threats. Since its listing at the London Stock Exchange, it has been relatively quiet when it comes to news, with hardly any important announcements coming from them.
Darktrace has won several accolades in recent years. Darktrace Antigena, which is the company’s autonomous response technology, bagged the most recent Computing AI & Machine Learning Excellence Award for Outstanding Security Automation. It was also one of the close contenders for winning the award for Best Security Company at the 2021 SC Europe Awards.
Should You Buy DARK Shares?
Most investors do not fully understand the concept of cybersecurity but realize that it is becoming an increasingly important aspect of our daily lives. Investors have an amazing opportunity to get involved with this industry by purchasing Darktrace shares. This is also one of the reasons which are driving the share prices up right now. A group of professionals and experts are at the top echelons of the company, all of which add credibility to the brand name. Their company achieved an edge over its competitors by tapping into talent from Cambridge University as well as other cyber intelligence specialists.
However, investors might have some concerns regarding Darktrace. This includes the fact that it is loss-making despite generating revenue. Investors should look for more colour on the road to profitability as a tech firm needs capital to stay innovative. This information can be released when financial results are revealed, but for now, it is not a share that is worth buying at this point.
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