BWS Financial reiterated their buy rating on shares of Arlo Technologies (NYSE:ARLO – Free Report) in a research report report published on Wednesday, Benzinga reports. BWS Financial currently has a $17.00 target price on the stock.
Arlo Technologies Stock Up 0.9 %
Shares of NYSE:ARLO opened at $11.03 on Wednesday. The firm’s 50 day moving average price is $11.13 and its 200 day moving average price is $9.78. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -45.96 and a beta of 1.86. Arlo Technologies has a fifty-two week low of $6.18 and a fifty-two week high of $13.34.
Arlo Technologies (NYSE:ARLO – Get Free Report) last issued its earnings results on Thursday, February 29th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.04. The firm had revenue of $135.09 million for the quarter, compared to analysts’ expectations of $135.05 million. Arlo Technologies had a negative net margin of 4.49% and a negative return on equity of 22.27%. On average, equities analysts anticipate that Arlo Technologies will post -0.06 EPS for the current year.
Insiders Place Their Bets
Hedge Funds Weigh In On Arlo Technologies
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Arlo Technologies by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 9,556,442 shares of the company’s stock worth $90,977,000 after acquiring an additional 51,623 shares during the last quarter. Primecap Management Co. CA grew its position in shares of Arlo Technologies by 3.1% during the fourth quarter. Primecap Management Co. CA now owns 4,876,641 shares of the company’s stock worth $46,426,000 after acquiring an additional 147,341 shares during the last quarter. Brandes Investment Partners LP grew its position in shares of Arlo Technologies by 8.4% during the fourth quarter. Brandes Investment Partners LP now owns 4,499,968 shares of the company’s stock worth $42,840,000 after acquiring an additional 349,082 shares during the last quarter. Rice Hall James & Associates LLC grew its position in shares of Arlo Technologies by 11.6% during the first quarter. Rice Hall James & Associates LLC now owns 4,061,255 shares of the company’s stock worth $51,375,000 after acquiring an additional 421,708 shares during the last quarter. Finally, Cannell Capital LLC grew its position in shares of Arlo Technologies by 6.8% during the fourth quarter. Cannell Capital LLC now owns 2,480,703 shares of the company’s stock worth $23,616,000 after acquiring an additional 158,580 shares during the last quarter. 83.18% of the stock is currently owned by hedge funds and other institutional investors.
About Arlo Technologies
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. The company offers Arlo Essential Cameras and Doorbells (2nd Generation) delivers smart home protection, including automated privacy shield, 180-degree field of view, and 2K video resolution; Arlo Home Security System, an all-in-one multi-sensor that provides access to security experts for monitoring and responding to emergency situations; Arlo Pro 5S, a wireless 2K video resolution security camera; Arlo Go 2, a camera for monitoring remote areas, large properties, construction sites, vacation homes, boat or RV slips, and hard-to-access areas; Arlo Ultra 2 provides 4K video with HDR, an ultra-wide, 180-degree field of view, auto zoom and tracking on moving objects, and color night vision; and Arlo Floodlight Camera, a wire-free floodlight camera.
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