Zacks: Analysts Expect Arlo Technologies, Inc. (NYSE:ARLO) to Announce -$0.03 EPS

Analysts expect Arlo Technologies, Inc. (NYSE:ARLO – Get Rating) to report earnings per share of ($0.03) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Arlo Technologies’ earnings, with the highest EPS estimate coming in at ($0.02) and the lowest estimate coming in at ($0.04). Arlo Technologies also reported earnings of ($0.03) per share in the same quarter last year. The firm is scheduled to issue its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Arlo Technologies will report full-year earnings of ($0.22) per share for the current fiscal year, with EPS estimates ranging from ($0.23) to ($0.20). For the next fiscal year, analysts forecast that the company will post earnings of $0.05 per share, with EPS estimates ranging from ($0.02) to $0.13. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Arlo Technologies.

Arlo Technologies (NYSE:ARLO – Get Rating) last released its quarterly earnings results on Tuesday, March 1st. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.05. The company had revenue of $142.86 million for the quarter, compared to analysts’ expectations of $134.96 million. Arlo Technologies had a negative return on equity of 47.08% and a negative net margin of 12.88%. The business’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.19) earnings per share.

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

A number of institutional investors have recently made changes to their positions in the stock. Rice Hall James & Associates LLC grew its stake in Arlo Technologies by 94.0% during the 1st quarter. Rice Hall James & Associates LLC now owns 532,232 shares of the company’s stock valued at $4,716,000 after acquiring an additional 257,945 shares in the last quarter. Royce & Associates LP increased its stake in Arlo Technologies by 127.8% in the 1st quarter. Royce & Associates LP now owns 1,036,686 shares of the company’s stock valued at $9,185,000 after buying an additional 581,686 shares during the period. New York State Common Retirement Fund lifted its position in Arlo Technologies by 7.2% in the 1st quarter. New York State Common Retirement Fund now owns 52,400 shares of the company’s stock worth $464,000 after buying an additional 3,505 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Arlo Technologies during the 1st quarter valued at $139,000. Finally, SG Americas Securities LLC grew its holdings in shares of Arlo Technologies by 84.4% during the 1st quarter. SG Americas Securities LLC now owns 120,568 shares of the company’s stock valued at $1,068,000 after acquiring an additional 55,179 shares in the last quarter. 69.61% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE ARLO opened at $7.38 on Tuesday. Arlo Technologies has a 1 year low of $5.48 and a 1 year high of $11.79. The stock has a fifty day moving average price of $8.87 and a two-hundred day moving average price of $8.64.

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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