Arlo Technologies (NYSE:ARLO) Updates Q2 2022 Earnings Guidance

Arlo Technologies (NYSE:ARLOGet Rating) issued an update on its second quarter 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of -$0.08–$0.03 for the period, compared to the consensus earnings per share estimate of -$0.05. The company issued revenue guidance of $105.00 million-$115.00 million, compared to the consensus revenue estimate of $105.63 million.

Shares of ARLO opened at $6.82 on Tuesday. The stock has a 50-day moving average price of $8.10 and a 200 day moving average price of $8.67. Arlo Technologies has a one year low of $5.50 and a one year high of $11.79. The company has a market capitalization of $592.39 million, a P/E ratio of -10.66 and a beta of 1.64.

Arlo Technologies (NYSE:ARLOGet Rating) last released its earnings results on Tuesday, May 10th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. Arlo Technologies had a negative return on equity of 47.56% and a negative net margin of 11.27%. The company had revenue of $124.80 million for the quarter, compared to the consensus estimate of $113.42 million. During the same quarter last year, the business posted ($0.13) EPS. Arlo Technologies’s quarterly revenue was up 51.2% compared to the same quarter last year. Sell-side analysts anticipate that Arlo Technologies will post -0.71 earnings per share for the current year.

ARLO has been the topic of a number of research analyst reports. Raymond James increased their target price on Arlo Technologies from $11.00 to $14.00 and gave the stock an outperform rating in a report on Wednesday, March 2nd. Lake Street Capital began coverage on Arlo Technologies in a report on Tuesday, January 25th. They set a buy rating and a $14.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their price target on Arlo Technologies from $10.00 to $14.00 and gave the stock a buy rating in a research report on Wednesday, March 2nd. Finally, BWS Financial increased their price target on Arlo Technologies from $12.00 to $15.00 and gave the stock a buy rating in a research report on Wednesday, March 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price of $13.25.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada increased its position in Arlo Technologies by 148.7% in the 2nd quarter. Royal Bank of Canada now owns 5,574 shares of the company’s stock valued at $38,000 after acquiring an additional 3,333 shares during the period. Captrust Financial Advisors increased its position in Arlo Technologies by 70.3% in the 1st quarter. Captrust Financial Advisors now owns 6,619 shares of the company’s stock valued at $59,000 after acquiring an additional 2,732 shares during the period. LPL Financial LLC increased its position in Arlo Technologies by 15.5% in 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 period. UBS Group AG increased its position in Arlo Technologies by 130.8% in the 3rd quarter. UBS Group AG now owns 18,237 shares of the company’s stock valued at $117,000 after acquiring an additional 10,334 shares during the period. Finally, Cetera Investment Advisers acquired a new stake in Arlo Technologies in the 4th quarter valued at approximately $118,000. Hedge funds and other institutional investors own 69.61% of the company’s stock.

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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