Why Jefferies Sees 2% Upside In IronNet?

Jefferies analyst Joseph Gallo initiated coverage of IronNet Inc IRNT with a Hold rating and $27 price target, implying a 2% upside.
Gallo believes the company's "collective defense model is a differentiated approach" to network security-enhancing protection via sharing security telemetry.
However, he finds IronNet's valuation priced at current share levels.
Price Action: IRNT shares traded lower by 1.90% at $25.86 in the premarket session on the last check Wednesday.

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