Arlo Technologies (NYSE:ARLO – Get 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:ARLO – Get 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.
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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