Brokerages Set Arlo Technologies Inc (ARLO) PT at $17.25

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Shares of Arlo Technologies Inc (NYSE:ARLO) have received an average recommendation of “Hold” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $17.25.

ARLO has been the topic of several recent research reports. Imperial Capital reiterated an “outperform” rating and set a $29.00 target price (down from $39.00) on shares of Arlo Technologies in a research report on Friday, January 4th. Cowen lowered shares of Arlo Technologies from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $25.00 to $7.50 in a research report on Wednesday, February 6th. Bank of America lowered shares of Arlo Technologies from a “neutral” rating to an “underperform” rating in a research report on Wednesday, February 6th. Finally, Zacks Investment Research lowered shares of Arlo Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, December 19th.

In other news, Director Ralph E. Faison purchased 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 27th. The stock was purchased at an average cost of $4.24 per share, with a total value of $212,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew Blake Mcrae purchased 45,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were purchased at an average cost of $4.46 per share, with a total value of $200,700.00. The disclosure for this purchase can be found here.

Hedge funds have recently made changes to their positions in the stock. Morgan Stanley bought a new position in Arlo Technologies during the 3rd quarter valued at about $4,913,000. Vanguard Group Inc. bought a new position in Arlo Technologies during the 3rd quarter valued at about $11,714,000. Macquarie Group Ltd. bought a new position in Arlo Technologies during the 3rd quarter valued at about $12,500,000. Zimmer Partners LP bought a new position in Arlo Technologies during the 3rd quarter valued at about $4,353,000. Finally, Rhumbline Advisers bought a new position in Arlo Technologies during the 4th quarter valued at about $148,000. 28.44% of the stock is owned by hedge funds and other institutional investors.

NYSE ARLO traded up $0.05 during midday trading on Wednesday, hitting $3.98. The company had a trading volume of 449,413 shares, compared to its average volume of 2,609,518. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.83 and a quick ratio of 1.39. The firm has a market capitalization of $291.80 million and a price-to-earnings ratio of -3.90. Arlo Technologies has a fifty-two week low of $3.37 and a fifty-two week high of $23.77.

Arlo Technologies (NYSE:ARLO) last issued its earnings results on Tuesday, February 5th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.04. Arlo Technologies had a negative net margin of 14.49% and a negative return on equity of 31.78%. The business had revenue of $129.30 million for the quarter, compared to analyst estimates of $128.58 million. During the same period in the previous year, the business earned $0.10 EPS. The firm’s revenue was up 3.6% on a year-over-year basis. As a group, sell-side analysts expect that Arlo Technologies will post -1.59 earnings per share for the current fiscal year.

About Arlo Technologies

Arlo Technologies, Inc provides smart connected devices to monitor the environments in real-time with a Wi-Fi or a cellular network Internet connection in the Americas, Europe, the Middle-East and Africa, and the Asia Pacific regions. It offers Arlo Security Camera, a battery-operated Wi-Fi security camera; Arlo Q and Arlo Q Plus, an indoor wired solution that allow users to monitor their surroundings; Arlo Pro, a battery-operated weather-resistant Wi-Fi camera; Arlo Go, an LTE-enabled wire-free camera that provides untethered mobile monitoring; and Arlo Baby, a baby monitor with air quality and temperature sensors, motion and audio detection, and advanced night vision.

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Analyst Recommendations for Arlo Technologies (NYSE:ARLO)

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