$115.15 Million in Sales Expected for Arlo Technologies, Inc. (NYSE:ARLO) This Quarter

Wall Street brokerages predict that Arlo Technologies, Inc. (NYSE:ARLOGet Rating) will announce sales of $115.15 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Arlo Technologies’ earnings. The lowest sales estimate is $113.70 million and the highest is $116.52 million. Arlo Technologies reported sales of $82.56 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 39.5%. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Arlo Technologies will report full-year sales of $504.32 million for the current fiscal year, with estimates ranging from $502.77 million to $505.10 million. For the next financial year, analysts expect that the company will post sales of $652.65 million, with estimates ranging from $651.70 million to $653.60 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Arlo Technologies.

Arlo Technologies (NYSE:ARLOGet Rating) last announced its quarterly earnings data on Tuesday, March 1st. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. The business had revenue of $142.86 million for the quarter, compared to analyst estimates of $134.96 million. Arlo Technologies had a negative return on equity of 47.08% and a negative net margin of 12.88%. The company’s revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.19) earnings per share.

Several research firms have recently weighed in on ARLO. BWS Financial lifted their target price on shares of Arlo Technologies from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, March 2nd. Zacks Investment Research lowered shares of Arlo Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, January 11th. Lake Street Capital assumed coverage on shares of Arlo Technologies in a report on Tuesday, January 25th. They set a “buy” rating and a $14.00 target price for the company. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Arlo Technologies from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, March 2nd. Finally, Raymond James lifted their price target on shares of Arlo Technologies from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, March 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $13.25.

NYSE:ARLO opened at $8.60 on Thursday. The firm has a market cap of $729.25 million, a price-to-earnings ratio of -12.84 and a beta of 1.68. The company has a 50 day moving average price of $9.13 and a 200-day moving average price of $8.48. Arlo Technologies has a 1-year low of $5.48 and a 1-year high of $11.79.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Maryland State Retirement & Pension System boosted its stake in Arlo Technologies by 4.4% during the 4th quarter. Maryland State Retirement & Pension System now owns 33,607 shares of the company’s stock worth $353,000 after purchasing an additional 1,413 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Arlo Technologies by 5.0% during the 4th quarter. JPMorgan Chase & Co. now owns 32,148 shares of the company’s stock valued at $337,000 after acquiring an additional 1,531 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Arlo Technologies by 2.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 68,603 shares of the company’s stock valued at $720,000 after acquiring an additional 1,545 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in shares of Arlo Technologies by 0.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 409,071 shares of the company’s stock valued at $4,291,000 after acquiring an additional 1,845 shares during the last quarter. Finally, LPL Financial LLC boosted its position in shares of Arlo Technologies by 15.5% during the 3rd quarter. LPL Financial LLC now owns 14,248 shares of the company’s stock valued at $91,000 after acquiring an additional 1,912 shares during the last quarter. 67.22% of the stock is currently owned by institutional investors.

About Arlo Technologies (Get Rating)

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. It combines an intelligent cloud infrastructure and mobile app with various smart connected devices. The company offers Arlo essential indoor camera; Arlo Go 2 LTE/Wi-Fi security camera; Arlo Q and Arlo Q Plus, an indoor wired solution that allows users to monitor their surroundings; and Arlo Go, an LTE-enabled wire-free camera that provides untethered mobile security.

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