Bank of America Corporation Increases Alarm.com Holdings, Inc. (ALRM) Price Target to $55.00

Alarm.com Holdings, Inc. (NASDAQ:ALRM) had its price target raised by Bank of America Corporation from $46.00 to $55.00 in a research note published on Tuesday, October 24th. Bank of America Corporation currently has a buy rating on the software maker’s stock.

Several other brokerages also recently issued reports on ALRM. Credit Suisse Group restated an outperform rating and set a $46.00 price objective (up from $37.00) on shares of Alarm.com Holdings in a research report on Wednesday, August 9th. Zacks Investment Research downgraded shares of Alarm.com Holdings from a strong-buy rating to a hold rating in a research report on Tuesday, October 10th. Northland Securities set a $41.00 price target on shares of Alarm.com Holdings and gave the company a buy rating in a research report on Wednesday, July 19th. William Blair reiterated an outperform rating on shares of Alarm.com Holdings in a research report on Thursday, September 21st. Finally, Stifel Nicolaus reiterated a hold rating and issued a $34.00 price target (up from $29.00) on shares of Alarm.com Holdings in a research report on Thursday, August 10th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $45.60.



Alarm.com Holdings (NASDAQ:ALRM) opened at $40.59 on Tuesday. Alarm.com Holdings has a 1-year low of $26.68 and a 1-year high of $49.49. The company has a quick ratio of 2.63, a current ratio of 2.85 and a debt-to-equity ratio of -0.70. The firm has a market capitalization of $1,913.41, a PE ratio of 45.10, a PEG ratio of 2.75 and a beta of 1.43.

Alarm.com Holdings (NASDAQ:ALRM) last posted its quarterly earnings results on Wednesday, November 8th. The software maker reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.07. Alarm.com Holdings had a negative return on equity of 39.83% and a net margin of 9.97%. The business had revenue of $90.00 million during the quarter, compared to analysts’ expectations of $83.04 million. During the same quarter last year, the company posted $0.19 earnings per share. Alarm.com Holdings’s quarterly revenue was up 32.7% on a year-over-year basis. sell-side analysts expect that Alarm.com Holdings will post 0.85 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This story was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this story on another domain, it was copied illegally and reposted in violation of US and international copyright and trademark laws. The correct version of this story can be accessed at https://www.dispatchtribunal.com/2017/11/12/bank-of-america-corporation-boosts-alarm-com-holdings-inc-alrm-price-target-to-55-00.html.

In related news, VP Daniel Ramos sold 10,063 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $47.02, for a total value of $473,162.26. Following the sale, the vice president now owns 57,127 shares of the company’s stock, valued at $2,686,111.54. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Stephen Trundle sold 78,542 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $45.25, for a total transaction of $3,554,025.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 310,214 shares of company stock worth $13,887,962. Insiders own 78.50% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in ALRM. SG Americas Securities LLC acquired a new position in Alarm.com Holdings in the third quarter valued at $109,000. Victory Capital Management Inc. lifted its holdings in Alarm.com Holdings by 40.8% in the first quarter. Victory Capital Management Inc. now owns 3,583 shares of the software maker’s stock valued at $110,000 after buying an additional 1,039 shares during the period. Macquarie Group Ltd. acquired a new position in Alarm.com Holdings in the third quarter valued at $147,000. BNP Paribas Arbitrage SA lifted its holdings in Alarm.com Holdings by 95.8% in the second quarter. BNP Paribas Arbitrage SA now owns 4,156 shares of the software maker’s stock valued at $156,000 after buying an additional 2,033 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Alarm.com Holdings by 57.4% in the second quarter. Legal & General Group Plc now owns 4,586 shares of the software maker’s stock valued at $172,000 after buying an additional 1,673 shares during the period. Institutional investors and hedge funds own 85.45% of the company’s stock.

About Alarm.com Holdings

Alarm.com Holdings, Inc is a platform solution for the connected property. The Company offers a suite of cloud-based solutions for the smart home and business, including interactive security, video monitoring, intelligent automation and energy management. The Company operates through two segments: Alarm.com and Other.

Analyst Recommendations for Alarm.com Holdings (NASDAQ:ALRM)

Receive News & Ratings for Alarm.com Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alarm.com Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply