Arlo Technologies (NYSE:ARLO) Issues Earnings Results, Beats Expectations By $0.01 EPS

Arlo Technologies (NYSE:ARLO) issued its quarterly earnings results on Thursday. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01, Briefing.com reports. Arlo Technologies had a negative net margin of 3.46% and a negative return on equity of 16.71%. The company had revenue of $127.45 million during the quarter, compared to analyst estimates of $125.03 million. During the same quarter in the previous year, the firm earned ($0.08) EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. Arlo Technologies updated its Q3 guidance to $0.08 to $0.14 EPS and its Q3 2024 guidance to 0.080-0.140 EPS.

Arlo Technologies Stock Performance

NYSE ARLO traded down $2.10 during trading hours on Friday, hitting $11.40. The company had a trading volume of 3,411,416 shares, compared to its average volume of 1,024,755. The business has a 50 day moving average of $14.25 and a 200-day moving average of $12.25. The company has a market cap of $1.11 billion, a PE ratio of -63.33 and a beta of 1.83. Arlo Technologies has a 1-year low of $7.77 and a 1-year high of $17.64.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Craig Hallum lifted their price objective on Arlo Technologies from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Roth Mkm increased their price target on shares of Arlo Technologies from $16.50 to $18.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, BWS Financial reiterated a “buy” rating and issued a $24.00 price objective on shares of Arlo Technologies in a report on Friday.

Insider Activity

In other news, Director Amy M. Rothstein sold 15,000 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $14.83, for a total value of $222,450.00. Following the completion of the sale, the director now directly owns 75,032 shares of the company’s stock, valued at $1,112,724.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Arlo Technologies news, Director Amy M. Rothstein sold 25,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $13.37, for a total transaction of $334,250.00. Following the completion of the sale, the director now directly owns 76,271 shares of the company’s stock, valued at approximately $1,019,743.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Amy M. Rothstein sold 15,000 shares of Arlo Technologies stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $14.83, for a total value of $222,450.00. Following the completion of the transaction, the director now owns 75,032 shares in the company, valued at $1,112,724.56. The disclosure for this sale can be found here. Company insiders own 3.80% 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.