What's Going On With Safe-T Group Shares?

Safe T Group American Depositary Shares SFET shares are trading higher by 1.94% at $0.70 after the company issued first-quarter sales guidance above analyst estimates.

Based upon a preliminary, unaudited review, Safe-T says the company expects to report revenues for the first quarter of approximately $4 million. This sales figure expectation is nearly triple the company's revenues compared to the $1.4 million reported for the first quarter of 2021.

Shachar Daniel, Chief Executive Officer of Safe-T, stated, “In the first quarter, our performance continued to be driven by growth in the consumer market, a direct result of our customer acquisition efforts. We are excited about our robust product pipeline and are looking forward to capitalizing on the clear and pressing need we see in the market for our solutions. We are confident in our ability to further increase the value of our recurring revenue stream and the Lifetime Value of our acquired customers.”

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Safe-T Group is a company engaged in the information security business. It controls and secures data exchange, preventing data exfiltration, leakage, malware, ransomware and fraud.

According to data from Benzinga Pro, Safe-T Group has a 52-week high of $1.69 and a 52-week low of $0.48.