Arlo Technologies (NYSE:ARLO) Issues Q2 Earnings Guidance

Arlo Technologies (NYSE:ARLOGet Rating) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of ($0.08-0.03) for the period, compared to the consensus EPS estimate of ($0.04). The company issued revenue guidance of $105-115 million, compared to the consensus revenue estimate of $105.63 million.Arlo Technologies also updated its Q2 2022 guidance to -$0.08–$0.03 EPS.

Several analysts have recently issued reports on ARLO shares. BWS Financial upped their target price on shares of Arlo Technologies from $12.00 to $15.00 and gave the company a buy rating in a research report on Wednesday, March 2nd. Raymond James upped their price target on shares of Arlo Technologies from $11.00 to $14.00 and gave the company an outperform rating in a report on Wednesday, March 2nd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Arlo Technologies from $10.00 to $14.00 and gave the company a buy rating in a report on Wednesday, March 2nd. 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 price target on the stock. Finally, Zacks Investment Research downgraded shares of Arlo Technologies from a buy rating to a hold rating in a report on Tuesday, January 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Buy and a consensus price target of $13.25.

NYSE:ARLO opened at $6.61 on Wednesday. Arlo Technologies has a 52 week low of $5.48 and a 52 week high of $11.79. The firm has a 50 day moving average of $8.70 and a 200 day moving average of $8.66. The stock has a market capitalization of $567.42 million, a price-to-earnings ratio of -9.87 and a beta of 1.64.

Arlo Technologies (NYSE:ARLOGet Rating) last posted its earnings results on Tuesday, May 10th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.04. Arlo Technologies had a negative net margin of 12.88% and a negative return on equity of 47.08%. The company had revenue of $124.80 million during the quarter, compared to analysts’ expectations of $113.42 million. During the same quarter in the prior year, the company posted ($0.13) earnings per share. Arlo Technologies’s revenue for the quarter was up 51.2% compared to the same quarter last year. On average, equities analysts anticipate that Arlo Technologies will post -0.74 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada grew its position in Arlo Technologies by 148.7% during the second quarter. Royal Bank of Canada now owns 5,574 shares of the company’s stock valued at $38,000 after buying an additional 3,333 shares during the period. Morgan Stanley grew its position in shares of Arlo Technologies by 85.0% in the second quarter. Morgan Stanley now owns 707,457 shares of the company’s stock valued at $4,789,000 after purchasing an additional 325,020 shares during the period. LPL Financial LLC grew its position in shares of Arlo Technologies by 15.5% in the third quarter. LPL Financial LLC now owns 14,248 shares of the company’s stock valued at $91,000 after purchasing an additional 1,912 shares during the period. UBS Group AG grew its position in shares of Arlo Technologies by 130.8% in the third quarter. UBS Group AG now owns 18,237 shares of the company’s stock valued at $117,000 after purchasing an additional 10,334 shares during the period. Finally, BNP Paribas Arbitrage SA grew its position in shares of Arlo Technologies by 148.7% in the third quarter. BNP Paribas Arbitrage SA now owns 85,678 shares of the company’s stock valued at $549,000 after purchasing an additional 51,232 shares during the period. 69.61% of the stock is owned by institutional investors and hedge funds.

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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