Arlo Technologies (NYSE:ARLO) Stock Price Expected to Rise, Lake Street Capital Analyst Says

by · The Markets Daily

Arlo Technologies (NYSE:ARLO – Get Free Report) had its price target hoisted by equities research analysts at Lake Street Capital from $25.00 to $26.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Lake Street Capital‘s price objective would suggest a potential upside of 110.07% from the company’s previous close.

A number of other equities analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Arlo Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Arlo Technologies in a report on Friday, October 30th. Finally, Piper Sandler restated an “overweight” rating and set a $17.00 price target (up from $16.00) on shares of Arlo Technologies in a report on Friday. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.33.

Check Out Our Latest Stock Report on ARLO

Arlo Technologies Price Performance

ARLO opened at $12.38 on Friday. The firm has a market capitalization of $1.34 billion, a PE ratio of 56.26 and a beta of 1.59. Arlo Technologies has a fifty-two week low of $11.05 and a fifty-two week high of $16.89. The company’s 50-day moving average is $13.05 and its 200 day moving average is $13.39.

Arlo Technologies (NYSE:ARLO – Get Free Report) last announced its earnings results on Thursday, November 5th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.04. Arlo Technologies had a return on equity of 16.08% and a net margin of 4.11%. The company had revenue of $149.18 million for the quarter, compared to analysts’ expectations of $144.93 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. Arlo Technologies’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, analysts expect that Arlo Technologies will post 0.12 EPS for the current year.

Insider Activity at Arlo Technologies

In related news, CFO Kurtis Binder sold 33,394 shares of Arlo Technologies stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $15.03, for a total transaction of $501,911.82. Following the sale, the chief financial officer directly owned 312,147 shares in the company, valued at approximately $4,691,569.41. This trade represents a 9.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 129,963 shares of company stock worth $1,705,100 over the last three months. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Arlo Technologies during the second quarter worth about $235,992,000. Wasatch Advisors LP boosted its stake in Arlo Technologies by 9.0% in the second quarter. Wasatch Advisors LP now owns 5,915,935 shares of the company’s stock valued at $79,747,000 after acquiring an additional 489,668 shares during the last quarter. Rice Hall James & Associates LLC boosted its stake in Arlo Technologies by 2.3% in the first quarter. Rice Hall James & Associates LLC now owns 3,659,888 shares of the company’s stock valued at $52,080,000 after acquiring an additional 83,276 shares during the last quarter. Jupiter Topco LLC purchased a new position in Arlo Technologies in the second quarter valued at about $34,557,000. Finally, Primecap Management Co. CA bought a new position in shares of Arlo Technologies during the 2nd quarter valued at approximately $26,183,000. Institutional investors own 83.18% of the company’s stock.

About Arlo Technologies

(Get Free Report)

Arlo Technologies, Inc is a smart home security company that develops connected devices and cloud-based services designed to help consumers monitor and protect their homes, businesses and other properties. Its product portfolio includes wire-free and wired security cameras, video doorbells, floodlight cameras, home security systems and related accessories.

Arlo’s products typically connect through mobile applications and cloud services, providing features such as live video, motion detection, two-way audio, night vision and notifications.

Further Reading