Arlo Technologies (NYSE:ARLO) Receives “Buy” Rating from BWS Financial

Arlo Technologies (NYSE:ARLO)‘s stock had its “buy” rating reaffirmed by investment analysts at BWS Financial in a note issued to investors on Friday, Benzinga reports. They currently have a $24.00 price objective on the stock. BWS Financial’s price target would indicate a potential upside of 102.87% from the stock’s previous close.

Separately, Roth Mkm raised their target price on shares of Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd.

Arlo Technologies Trading Down 1.2 %

Shares of ARLO stock opened at $11.83 on Friday. The business’s fifty day moving average price is $12.61 and its 200 day moving average price is $12.80. Arlo Technologies has a 1-year low of $7.77 and a 1-year high of $17.64. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.48 and a quick ratio of 1.23. The firm has a market capitalization of $1.15 billion, a PE ratio of -65.72 and a beta of 1.76.

Arlo Technologies (NYSE:ARLO) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $127.45 million during the quarter, compared to analysts’ expectations of $125.03 million. Arlo Technologies had a negative net margin of 4.19% and a negative return on equity of 20.75%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period last year, the company posted ($0.08) EPS. As a group, sell-side analysts forecast that Arlo Technologies will post -0.4 EPS for the current fiscal year.

Insider Activity

In related news, Director Ralph E. Faison purchased 8,842 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $11.89 per share, for a total transaction of $105,131.38. Following the completion of the purchase, the director now owns 385,599 shares in the company, valued at $4,584,772.11. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Arlo Technologies news, Director Ralph E. Faison bought 8,842 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $11.89 per share, with a total value of $105,131.38. Following the completion of the acquisition, the director now owns 385,599 shares of the company’s stock, valued at $4,584,772.11. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, 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. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Arlo Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Arlo Technologies by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 9,556,442 shares of the company’s stock worth $90,977,000 after acquiring an additional 51,623 shares in the last quarter. Brandes Investment Partners LP lifted its stake in Arlo Technologies by 1.0% during the second quarter. Brandes Investment Partners LP now owns 5,140,826 shares of the company’s stock valued at $66,991,000 after buying an additional 53,242 shares in the last quarter. Cannell Capital LLC raised its position in Arlo Technologies by 6.8% during the fourth quarter. Cannell Capital LLC now owns 2,480,703 shares of the company’s stock valued at $23,616,000 after buying an additional 158,580 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Arlo Technologies by 12.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,414,400 shares of the company’s stock valued at $18,444,000 after buying an additional 154,100 shares during the period. Finally, Engle Capital Management L.P. grew its stake in shares of Arlo Technologies by 25.6% in the 2nd quarter. Engle Capital Management L.P. now owns 1,130,000 shares of the company’s stock valued at $14,735,000 after buying an additional 230,000 shares in the last quarter. Institutional investors own 83.18% 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.