Arlo Technologies (ARLO) Raised to “Hold” at Zacks Investment Research
Arlo Technologies (NYSE:ARLO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “Arlo Technologies, Inc. product design, wireless connectivity, cloud infrastructure and cutting-edge AI capabilities focuses on delivering a seamless, smart home experience. The company’s cloud-based platform provides users with visibility, insight and a powerful means to help protect and connect in real-time. Its connected devices, including wire-free smart Wi-Fi and LTE-enabled cameras, advanced baby monitors and smart security lights. Arlo Technologies, Inc. is based in San Jose, United States. “
Separately, Imperial Capital set a $39.00 price target on shares of Arlo Technologies and gave the stock a “buy” rating in a research note on Monday, October 1st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $27.00.
Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings results on Thursday, October 25th. The company reported ($0.10) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.14. The business had revenue of $131.17 million during the quarter, compared to the consensus estimate of $117.90 million. Arlo Technologies had a negative net margin of 7.22% and a negative return on equity of 17.19%. Equities analysts anticipate that Arlo Technologies will post -0.97 EPS for the current year.
Several hedge funds have recently modified their holdings of the stock. Contravisory Investment Management Inc. acquired a new position in shares of Arlo Technologies during the fourth quarter worth $47,000. Legal & General Group Plc acquired a new position in shares of Arlo Technologies during the third quarter worth $27,000. Vanguard Group Inc acquired a new position in shares of Arlo Technologies during the third quarter worth $11,714,000. Federated Investors Inc. PA acquired a new position in shares of Arlo Technologies during the third quarter worth $7,255,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of Arlo Technologies during the third quarter worth $591,000. Hedge funds and other institutional investors own 25.29% of the company’s stock.
Arlo Technologies Company Profile
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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