中泰证券研报指出，受宏观环境影响，当前网络安全行业下游整体支出力度仍较为低迷，但25Q1看到公司在收入端承压的背景下，持续优化提升经营效率，有效实现降本增效，因此调整2025-2026年盈利预测，并新增2027年盈利预测。预测公司2025-2027年归母净利润分别为0.81/1.11/2.74亿元（2025-2026年前预测值为9.84/12.22亿元）。公司虽短期业绩承压，但经营效率持续提升，同时随着与中国移动协同深入，公司市场竞争力有望得以进一步巩固与提升。不过考虑到当前公司估值水平短期较高，该行下调公司评级，给予公司“增持”评级。
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