Arlo Technologies Inc (NYSE:ARLO) has received a consensus recommendation of “Hold” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $17.25.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research cut Arlo Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, January 8th. Cowen cut Arlo Technologies from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $25.00 to $7.50 in a research note on Wednesday, February 6th. Imperial Capital reaffirmed an “outperform” rating and issued a $29.00 price objective (down from $39.00) on shares of Arlo Technologies in a report on Friday, January 4th. Finally, Bank of America lowered Arlo Technologies from a “neutral” rating to an “underperform” rating in a report on Wednesday, February 6th.
A number of hedge funds and other institutional investors have recently modified their holdings of ARLO. FMR LLC acquired a new position in Arlo Technologies in the 3rd quarter valued at $83,087,000. Primecap Management Co. CA acquired a new position in Arlo Technologies in the 3rd quarter valued at $31,173,000. BlackRock Inc. acquired a new position in Arlo Technologies in the 3rd quarter valued at $14,298,000. Bank of New York Mellon Corp grew its holdings in Arlo Technologies by 3,141.7% in the 4th quarter. Bank of New York Mellon Corp now owns 947,946 shares of the company’s stock valued at $9,460,000 after buying an additional 918,704 shares in the last quarter. Finally, Macquarie Group Ltd. acquired a new position in Arlo Technologies in the 3rd quarter valued at $12,500,000. 30.43% of the stock is currently owned by hedge funds and other institutional investors.
Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings results on Tuesday, February 5th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.04. Arlo Technologies had a negative return on equity of 31.50% and a negative net margin of 14.49%. The business had revenue of $129.30 million for the quarter, compared to analysts’ expectations of $128.58 million. During the same quarter in the prior year, the business earned $0.10 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, equities analysts forecast that Arlo Technologies will post -1.59 earnings per share for the current 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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