Investment analysts at Deutsche Bank began coverage on shares of Arlo Technologies (NYSE:ARLO) in a research note issued on Monday, The Fly reports. The brokerage set a “buy” rating on the stock.
Several other brokerages have also weighed in on ARLO. Zacks Investment Research lowered shares of Arlo Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Bank of America reiterated an “underperform” rating and set a $3.50 price objective (down previously from $5.00) on shares of Arlo Technologies in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $5.50.
ARLO traded down $0.16 during trading on Monday, reaching $2.68. 1,416,300 shares of the stock traded hands, compared to its average volume of 1,328,683. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $216.47 million, a PE ratio of -2.63 and a beta of 0.45. The stock’s 50-day moving average is $3.36 and its 200 day moving average is $3.66. Arlo Technologies has a 12 month low of $2.66 and a 12 month high of $13.71.
Arlo Technologies (NYSE:ARLO) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.32) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.05. The business had revenue of $106.12 million for the quarter, compared to analysts’ expectations of $102.14 million. Arlo Technologies had a negative net margin of 29.90% and a negative return on equity of 45.02%. The business’s quarterly revenue was down 19.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. As a group, equities research analysts anticipate that Arlo Technologies will post -1.61 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in ARLO. Marshall Wace LLP acquired a new position in shares of Arlo Technologies during the first quarter valued at about $74,000. Metropolitan Life Insurance Co NY acquired a new position in shares of Arlo Technologies during the first quarter valued at about $80,000. FMR LLC raised its holdings in shares of Arlo Technologies by 50.0% during the first quarter. FMR LLC now owns 11,138,225 shares of the company’s stock valued at $46,001,000 after purchasing an additional 3,713,841 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Arlo Technologies during the first quarter valued at about $118,000. Finally, First Citizens Bank & Trust Co. acquired a new position in shares of Arlo Technologies during the second quarter valued at about $113,000. Hedge funds and other institutional investors own 86.10% of the company’s stock.
About Arlo Technologies
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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