Arlo Technologies (NYSE:ARLO) Releases Q2 2024 Earnings Guidance

Arlo Technologies (NYSE:ARLO) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.060-0.120 for the period, compared to the consensus earnings per share estimate of 0.090. The company issued revenue guidance of $120.0 million-$130.0 million, compared to the consensus revenue estimate of $124.7 million.

Wall Street Analysts Forecast Growth

Separately, BWS Financial restated a buy rating and set a $17.00 target price on shares of Arlo Technologies in a research note on Wednesday, April 24th.

Arlo Technologies Stock Down 2.1 %

ARLO traded down $0.29 during trading on Thursday, hitting $13.94. 1,816,848 shares of the company’s stock were exchanged, compared to its average volume of 1,001,659. The stock has a market cap of $1.35 billion, a P/E ratio of -58.06 and a beta of 1.87. Arlo Technologies has a fifty-two week low of $6.88 and a fifty-two week high of $14.27. The business’s 50 day moving average is $11.85 and its two-hundred day moving average is $10.04.

Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. The company had revenue of $135.09 million for the quarter, compared to analysts’ expectations of $135.05 million. Arlo Technologies had a negative net margin of 4.49% and a negative return on equity of 22.27%. On average, sell-side analysts forecast that Arlo Technologies will post -0.06 earnings per share for the current year.

Insider Buying and Selling

In other Arlo Technologies news, General Counsel Brian Busse sold 42,161 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $10.97, for a total transaction of $462,506.17. Following the transaction, the general counsel now directly owns 661,878 shares in the company, valued at $7,260,801.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, General Counsel Brian Busse sold 42,161 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $10.97, for a total value of $462,506.17. Following the completion of the sale, the general counsel now owns 661,878 shares of the company’s stock, valued at $7,260,801.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew Blake Mcrae sold 132,214 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $10.95, for a total value of $1,447,743.30. Following the completion of the sale, the chief executive officer now directly owns 2,314,950 shares in the company, valued at $25,348,702.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 330,386 shares of company stock worth $3,658,179. Corporate insiders own 2.90% of the company’s stock.

Arlo Technologies Company Profile

Arlo Technologies, Inc, together with its subsidiaries, provides a cloud-based platform in the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions. The company offers Arlo Essential Cameras and Doorbells (2nd Generation) delivers smart home protection, including automated privacy shield, 180-degree field of view, and 2K video resolution; Arlo Home Security System, an all-in-one multi-sensor that provides access to security experts for monitoring and responding to emergency situations; Arlo Pro 5S, a wireless 2K video resolution security camera; Arlo Go 2, a camera for monitoring remote areas, large properties, construction sites, vacation homes, boat or RV slips, and hard-to-access areas; Arlo Ultra 2 provides 4K video with HDR, an ultra-wide, 180-degree field of view, auto zoom and tracking on moving objects, and color night vision; and Arlo Floodlight Camera, a wire-free floodlight camera.