Alarm.com (NASDAQ:ALRM) Posts Earnings Results

Alarm.com (NASDAQ:ALRMGet Free Report) released its earnings results on Thursday. The software maker reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01), Yahoo Finance reports. The company had revenue of $226.20 million during the quarter, compared to analysts’ expectations of $224.93 million. Alarm.com had a net margin of 9.19% and a return on equity of 11.80%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $0.33 earnings per share. Alarm.com updated its FY24 guidance to $2.10-2.14 EPS and its FY 2024 guidance to 2.100-2.140 EPS.

Alarm.com Stock Performance

Shares of ALRM traded up $1.90 during midday trading on Friday, reaching $71.88. 812,938 shares of the stock were exchanged, compared to its average volume of 229,059. The business’s 50-day moving average price is $63.72 and its 200 day moving average price is $59.62. The company has a debt-to-equity ratio of 0.74, a current ratio of 5.42 and a quick ratio of 4.75. Alarm.com has a twelve month low of $44.92 and a twelve month high of $74.72. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 46.98, a PEG ratio of 7.75 and a beta of 0.90.

Insider Transactions at Alarm.com

In other news, insider Daniel Kerzner sold 28,433 shares of Alarm.com stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $69.98, for a total transaction of $1,989,741.34. Following the sale, the insider now owns 57,351 shares in the company, valued at $4,013,422.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Alarm.com

Several institutional investors have recently added to or reduced their stakes in ALRM. Mercer Global Advisors Inc. ADV boosted its stake in shares of Alarm.com by 4.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,088 shares of the software maker’s stock worth $329,000 after acquiring an additional 217 shares in the last quarter. United Capital Financial Advisers LLC raised its position in shares of Alarm.com by 3.0% during the 1st quarter. United Capital Financial Advisers LLC now owns 8,065 shares of the software maker’s stock worth $536,000 after purchasing an additional 232 shares during the last quarter. Eaton Vance Management raised its position in shares of Alarm.com by 0.8% during the 1st quarter. Eaton Vance Management now owns 48,613 shares of the software maker’s stock worth $3,231,000 after purchasing an additional 383 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Alarm.com by 0.8% during the 2nd quarter. Alliancebernstein L.P. now owns 63,272 shares of the software maker’s stock worth $3,270,000 after purchasing an additional 473 shares during the last quarter. Finally, Yousif Capital Management LLC raised its position in shares of Alarm.com by 1.3% during the 1st quarter. Yousif Capital Management LLC now owns 41,740 shares of the software maker’s stock worth $2,774,000 after purchasing an additional 540 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Roth Mkm lifted their target price on Alarm.com from $67.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, January 3rd. TheStreet lowered Alarm.com from a “b-” rating to a “c+” rating in a report on Wednesday, November 1st. StockNews.com upgraded Alarm.com from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 10th. JPMorgan Chase & Co. raised their price target on Alarm.com from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Barclays raised their price target on Alarm.com from $66.00 to $78.00 and gave the company an “equal weight” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $69.00.

Read Our Latest Research Report on ALRM

Alarm.com Company Profile

(Get Free Report)

Alarm.com Holdings, Inc provides various Internet of Things (IoT) and solutions for residential, multi-family, small business, and enterprise commercial markets in North America and internationally. The company operates in two segments, Alarm.com and Other. It offers solutions to control and monitor security systems, as well as to IoT devices, including door locks, garage doors, thermostats, and video cameras; and video monitoring and analytics solutions, such as escalated events, video doorbells, intelligent integration, live streaming, secure cloud storage, and video alerts.

Read More

Earnings History for Alarm.com (NASDAQ:ALRM)

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