Alarm.com (NASDAQ:ALRM) Updates FY24 Earnings Guidance

Alarm.com (NASDAQ:ALRM) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $2.14-$2.16 for the period, compared to the consensus EPS estimate of $2.14. The company issued revenue guidance of $914.5-$931.0 million, compared to the consensus revenue estimate of $925.58 million. Alarm.com also updated its FY 2024 guidance to 2.140-2.160 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Barclays boosted their price target on Alarm.com from $66.00 to $78.00 and gave the company an equal weight rating in a research report on Friday, February 23rd. StockNews.com raised shares of Alarm.com from a buy rating to a strong-buy rating in a research report on Friday, March 15th. JPMorgan Chase & Co. raised their price objective on Alarm.com from $62.00 to $70.00 and gave the company a neutral rating in a research note on Friday, February 23rd. Finally, TheStreet raised shares of Alarm.com from a c+ rating to a b- rating in a report on Friday, February 23rd. Two analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Buy and an average target price of $68.83.

Alarm.com Stock Performance

Shares of ALRM stock opened at $68.79 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.46 and a quick ratio of 4.91. Alarm.com has a 12-month low of $46.83 and a 12-month high of $77.29. The business has a 50 day simple moving average of $70.18 and a 200 day simple moving average of $64.08. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 44.96, a price-to-earnings-growth ratio of 3.87 and a beta of 0.94.

Alarm.com (NASDAQ:ALRM) last issued its quarterly earnings results on Thursday, February 22nd. The software maker reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). Alarm.com had a net margin of 9.19% and a return on equity of 11.61%. The firm had revenue of $226.20 million for the quarter, compared to analyst estimates of $224.93 million. During the same quarter last year, the business posted $0.33 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities research analysts anticipate that Alarm.com will post 1.39 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Steve Valenzuela sold 1,716 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $70.00, for a total value of $120,120.00. Following the completion of the transaction, the chief financial officer now owns 35,784 shares of the company’s stock, valued at approximately $2,504,880. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Daniel Kerzner sold 28,433 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $69.98, for a total transaction of $1,989,741.34. Following the completion of the sale, the insider now owns 57,351 shares in the company, valued at approximately $4,013,422.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Steve Valenzuela sold 1,716 shares of Alarm.com stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $70.00, for a total transaction of $120,120.00. Following the completion of the transaction, the chief financial officer now directly owns 35,784 shares in the company, valued at approximately $2,504,880. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,532 shares of company stock worth $8,116,333. 5.60% of the stock is owned by insiders.

Alarm.com Company Profile

Alarm.com Holdings, Inc provides various Internet of Things (IoT) and solutions for residential, multi-family, small business, and enterprise commercial markets in North America and internationally. The company operates through two segments, Alarm.com and Other. It offers solutions to control and monitor security systems, as well as to IoT devices, including door locks, garage doors, thermostats, and video cameras; and video monitoring and analytics solutions, such as video analytics, escalated events, video doorbells, intelligent integration, live streaming, secure cloud storage, and video alerts.