Arlo Technologies, Inc. (ARLO) – What Are Brokerages Saying About This Stock?

Shares of Arlo Technologies, Inc. (NYSE:ARLO) have been given an average rating of “Moderate Buy” by the seven brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $20.40.

Several research analysts have weighed in on the company. Wall Street Zen lowered Arlo Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Arlo Technologies in a research note on Friday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $17.00 price objective (up from $16.00) on shares of Arlo Technologies in a report on Friday, November 6th. Finally, Lake Street Capital increased their price objective on Arlo Technologies from $25.00 to $26.00 and gave the company a “buy” rating in a report on Friday, November 6th.

Arlo Technologies Price Performance

Shares of NYSE ARLO opened at $12.28 on Friday. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 56.00 and a beta of 1.59. The business has a 50-day moving average of $13.02 and a 200-day moving average of $13.37. Arlo Technologies has a fifty-two week low of $11.05 and a fifty-two week high of $16.89.

Arlo Technologies (NYSE:ARLO) last released its earnings results on Thursday, November 5th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. Arlo Technologies had a return on equity of 16.08% and a net margin of 4.11%. The business had revenue of $149.18 million for the quarter, compared to the consensus estimate of $144.93 million. During the same quarter in the previous year, the business earned $0.16 earnings per share. Arlo Technologies’s quarterly revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts expect that Arlo Technologies will post 0.12 EPS for the current year.

Insiders Place Their Bets

In other Arlo Technologies news, CFO Kurtis Binder sold 83,211 shares of the company’s stock in a transaction on Monday, September 28th. The shares were sold at an average price of $12.44, for a total transaction of $1,035,144.84. Following the sale, the chief financial officer directly owned 358,899 shares of the company’s stock, valued at approximately $4,464,703.56. This represents a 18.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Ralph Faison purchased 8,250 shares of the business’s stock in a transaction on Monday, November 9th. The stock was purchased at an average price of $12.17 per share, with a total value of $100,402.50. Following the purchase, the director owned 419,300 shares of the company’s stock, valued at approximately $5,102,881. The trade was a 2.01% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have sold 129,963 shares of company stock worth $1,705,100. 2.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arlo Technologies

A number of institutional investors and hedge funds have recently modified their holdings of ARLO. Landscape Capital Management L.L.C. acquired a new stake in Arlo Technologies in the 3rd quarter valued at about $2,626,000. Voya Investment Management LLC grew its holdings in Arlo Technologies by 5.2% during the third quarter. Voya Investment Management LLC now owns 233,190 shares of the company’s stock worth $2,892,000 after purchasing an additional 11,590 shares during the period. White Pine Capital LLC acquired a new position in Arlo Technologies during the third quarter worth approximately $2,693,000. Aberdeen Group plc acquired a new position in Arlo Technologies during the third quarter worth approximately $10,519,000. Finally, Russell Investments Group Ltd. increased its position in Arlo Technologies by 75.7% during the third quarter. Russell Investments Group Ltd. now owns 115,935 shares of the company’s stock worth $1,438,000 after buying an additional 49,949 shares during the last quarter. 83.18% of the stock is owned by institutional investors.

Arlo Technologies Company Profile

Arlo Technologies develops and sells connected home security products and services. Its offerings include indoor and outdoor security cameras, video doorbells, floodlight cameras and related smart-home devices, which let users monitor their properties through a mobile app. The company also offers subscription services, including cloud video storage, enhanced security features and professional monitoring. Arlo’s products and services are available in markets including North America, Europe and Australia.