Arlo Technologies (NYSE:ARLO) Releases 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 (EPS) guidance of -$0.08–$0.03 for the period, compared to the consensus 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 NYSE ARLO opened at $7.30 on Tuesday. Arlo Technologies has a 12 month low of $5.50 and a 12 month high of $11.79. The business has a 50-day moving average of $7.85 and a 200-day moving average of $8.66.

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

Several brokerages have weighed in on ARLO. BWS Financial boosted their price objective on 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 increased their price objective on Arlo Technologies from $11.00 to $14.00 and gave the stock an outperform rating in a report on Wednesday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Arlo Technologies from $10.00 to $14.00 and gave the stock a buy rating in a report on Wednesday, March 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $13.25.

Large investors have recently made changes to their positions in the business. KB Financial Partners LLC raised its stake in shares of Arlo Technologies by 18.2% in the first quarter. KB Financial Partners LLC now owns 34,114 shares of the company’s stock worth $302,000 after buying an additional 5,259 shares during the period. Walleye Capital LLC bought a new position in shares of Arlo Technologies in the first quarter worth about $283,000. Quantbot Technologies LP bought a new position in shares of Arlo Technologies in the first quarter worth about $252,000. Ergoteles LLC bought a new position in shares of Arlo Technologies in the first quarter worth about $193,000. Finally, Mackenzie Financial Corp bought a new position in shares of Arlo Technologies in the first quarter worth about $157,000. 69.61% of the stock is currently owned by institutional investors and hedge funds.

Arlo Technologies Company Profile (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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