Alarm.com (NASDAQ:ALRM) Updates FY24 Earnings Guidance

Alarm.com (NASDAQ:ALRM) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $2.14-$2.16 for the period, compared to the consensus EPS estimate of $2.14. The company issued revenue guidance of $914.5-$931.0 million, compared to the consensus revenue estimate of $925.58 million.

Alarm.com Price Performance

NASDAQ ALRM traded up $0.18 during trading on Thursday, hitting $68.79. 453,516 shares of the company’s stock were exchanged, compared to its average volume of 250,097. The stock’s 50 day moving average price is $70.31 and its two-hundred day moving average price is $64.04. Alarm.com has a fifty-two week low of $46.83 and a fifty-two week high of $77.29. The company has a current ratio of 5.46, a quick ratio of 4.91 and a debt-to-equity ratio of 0.72. The company has a market cap of $3.45 billion, a PE ratio of 45.33, a P/E/G ratio of 3.87 and a beta of 0.94.

Alarm.com (NASDAQ:ALRM) last issued its quarterly earnings results on Thursday, February 22nd. The software maker reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The firm had revenue of $226.20 million during the quarter, compared to analyst estimates of $224.93 million. Alarm.com had a return on equity of 11.61% and a net margin of 9.19%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.33 EPS. Research analysts expect that Alarm.com will post 1.39 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ALRM shares. JPMorgan Chase & Co. boosted their target price on shares of Alarm.com from $62.00 to $70.00 and gave the stock a neutral rating in a research report on Friday, February 23rd. TheStreet raised Alarm.com from a c+ rating to a b- rating in a research report on Friday, February 23rd. StockNews.com raised shares of Alarm.com from a buy rating to a strong-buy rating in a research report on Friday, March 15th. Finally, Barclays boosted their price target on shares of Alarm.com from $66.00 to $78.00 and gave the company an equal weight rating in a research report on Friday, February 23rd. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Buy and an average price target of $68.83.

Insiders Place Their Bets

In other Alarm.com news, CFO Steve Valenzuela sold 1,716 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $70.00, for a total transaction of $120,120.00. Following the completion of the transaction, the chief financial officer now owns 35,784 shares of the company’s stock, valued at approximately $2,504,880. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Stephen Trundle sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $73.80, for a total transaction of $3,690,000.00. Following the transaction, the chief executive officer now owns 1,289,343 shares of the company’s stock, valued at $95,153,513.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Steve Valenzuela sold 1,716 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $70.00, for a total value of $120,120.00. Following the transaction, the chief financial officer now owns 35,784 shares of the company’s stock, valued at approximately $2,504,880. The disclosure for this sale can be found here. Insiders sold a total of 111,532 shares of company stock worth $8,116,333 over the last three months. 5.60% of the stock is currently owned by company insiders.

About Alarm.com

Alarm.com Holdings, Inc provides various Internet of Things (IoT) and solutions for residential, multi-family, small business, and enterprise commercial markets in North America and internationally. The company operates through two segments, Alarm.com and Other. It offers solutions to control and monitor security systems, as well as to IoT devices, including door locks, garage doors, thermostats, and video cameras; and video monitoring and analytics solutions, such as video analytics, escalated events, video doorbells, intelligent integration, live streaming, secure cloud storage, and video alerts.