Arlo Technologies (NYSE:ARLO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
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. “
Other equities analysts have also recently issued research reports about the stock. Raymond James began coverage on shares of Arlo Technologies in a research note on Tuesday, August 28th. They set a “market perform” rating on the stock. Deutsche Bank began coverage on shares of Arlo Technologies in a research note on Tuesday, August 28th. They set a “buy” rating and a $28.00 target price on the stock. Guggenheim raised shares of Arlo Technologies from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Thursday, August 30th. They noted that the move was a valuation call. Imperial Capital began coverage on shares of Arlo Technologies in a research note on Tuesday, August 28th. They set an “outperform” rating and a $39.00 target price on the stock. Finally, Bank of America began coverage on shares of Arlo Technologies in a research note on Tuesday, August 28th. They set a “neutral” rating and a $24.00 target price on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Arlo Technologies presently has an average rating of “Hold” and a consensus price target of $29.00.
Arlo Technologies stock opened at $8.80 on Tuesday. The company has a current ratio of 2.42, a quick ratio of 1.74 and a debt-to-equity ratio of 0.07. Arlo Technologies has a 52 week low of $8.79 and a 52 week high of $23.77.
Arlo Technologies (NYSE:ARLO) last released its earnings results on Thursday, October 25th. The company reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.14. The firm had revenue of $131.17 million for the quarter, compared to analysts’ expectations of $117.90 million. Arlo Technologies had a negative net margin of 7.22% and a negative return on equity of 17.19%. Sell-side analysts forecast that Arlo Technologies will post -0.95 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the business. American International Group Inc. acquired a new position in shares of Arlo Technologies in the 3rd quarter worth approximately $114,000. Pentwater Capital Management LP acquired a new position in shares of Arlo Technologies in the 3rd quarter worth approximately $145,000. Monashee Investment Management LLC acquired a new position in shares of Arlo Technologies in the 3rd quarter worth approximately $204,000. Teachers Advisors LLC acquired a new position in shares of Arlo Technologies in the 3rd quarter worth approximately $225,000. Finally, TIAA CREF Investment Management LLC acquired a new position in shares of Arlo Technologies in the 3rd quarter worth approximately $242,000. 25.29% of the stock is currently owned by hedge funds and other institutional investors.
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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