Arlo Technologies (NYSE:ARLO) Stock Price Expected to Rise, Lake Street Capital Analyst Says

Arlo Technologies (NYSE:ARLO) had its target price boosted by analysts at Lake Street Capital from $25.00 to $26.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Lake Street Capital‘s price target would suggest a potential upside of 110.07% from the company’s previous close.

ARLO has been the subject of several other research reports. Wall Street Zen cut Arlo Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of Arlo Technologies in a research report on Friday, October 30th. Finally, Piper Sandler reissued an “overweight” rating and set a $17.00 price target (up from $16.00) on shares of Arlo Technologies in a research report on Friday. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.33.

Arlo Technologies Price Performance

Arlo Technologies stock opened at $12.38 on Friday. The firm’s 50 day simple moving average is $13.05 and its 200-day simple moving average is $13.39. The company has a market cap of $1.34 billion, a P/E ratio of 56.26 and a beta of 1.59. Arlo Technologies has a fifty-two week low of $11.05 and a fifty-two week high of $16.89.

Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. Arlo Technologies had a net margin of 4.11% and a return on equity of 16.08%. The firm had revenue of $149.18 million during the quarter, compared to analyst estimates of $144.93 million. During the same quarter last year, the business posted $0.16 EPS. The company’s revenue was up 6.9% on a year-over-year basis. On average, analysts expect that Arlo Technologies will post 0.12 EPS for the current fiscal year.

Insider Activity

In other news, CFO Kurtis Binder sold 33,394 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $15.03, for a total transaction of $501,911.82. Following the transaction, the chief financial officer directly owned 312,147 shares in the company, valued at $4,691,569.41. The trade was a 9.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 129,963 shares of company stock worth $1,705,100. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Arlo Technologies

Several hedge funds and other institutional investors have recently modified their holdings of ARLO. BlackRock Inc. purchased a new position in Arlo Technologies in the second quarter valued at about $235,992,000. Wasatch Advisors LP raised its stake in shares of Arlo Technologies by 9.0% during the 2nd quarter. Wasatch Advisors LP now owns 5,915,935 shares of the company’s stock worth $79,747,000 after purchasing an additional 489,668 shares in the last quarter. Rice Hall James & Associates LLC purchased a new stake in shares of Arlo Technologies during the 2nd quarter worth about $50,320,000. Jupiter Topco LLC purchased a new stake in shares of Arlo Technologies during the 2nd quarter worth about $34,557,000. Finally, Primecap Management Co. CA acquired a new stake in shares of Arlo Technologies during the 2nd quarter valued at about $26,183,000. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Arlo Technologies Company Profile

Arlo Technologies, Inc is a smart home security company that develops connected devices and cloud-based services designed to help consumers monitor and protect their homes, businesses and other properties. Its product portfolio includes wire-free and wired security cameras, video doorbells, floodlight cameras, home security systems and related accessories.

Arlo’s products typically connect through mobile applications and cloud services, providing features such as live video, motion detection, two-way audio, night vision and notifications.