Arlo Technologies (NYSE:ARLO) Receives “Buy” Rating from BWS Financial

Arlo Technologies (NYSE:ARLO)‘s stock had its “buy” rating reissued by investment analysts at BWS Financial in a research note issued on Friday, Benzinga reports. They presently have a $24.00 price objective on the stock. BWS Financial’s target price suggests a potential upside of 98.84% from the company’s previous close.

Separately, Roth Mkm raised their price target on Arlo Technologies from $16.50 to $18.00 and gave the company a “buy” rating in a research note on Monday, July 22nd.

Arlo Technologies Trading Up 0.8 %

Shares of NYSE ARLO traded up $0.10 during trading hours on Friday, hitting $12.07. 64,844 shares of the company traded hands, compared to its average volume of 971,220. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -67.11 and a beta of 1.76. The company’s 50 day moving average price is $12.70 and its 200 day moving average price is $12.79. Arlo Technologies has a 12 month low of $7.77 and a 12 month high of $17.64. The company has a current ratio of 1.48, a quick ratio of 1.23 and a debt-to-equity ratio of 0.16.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $127.45 million during the quarter, compared to the consensus estimate of $125.03 million. Arlo Technologies had a negative net margin of 4.19% and a negative return on equity of 20.75%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.08) earnings per share. On average, equities research analysts anticipate that Arlo Technologies will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Ralph E. Faison bought 8,842 shares of the stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $11.89 per share, for a total transaction of $105,131.38. Following the completion of the purchase, the director now directly owns 385,599 shares of the company’s stock, valued at $4,584,772.11. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Ralph E. Faison acquired 8,842 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $11.89 per share, for a total transaction of $105,131.38. Following the completion of the transaction, the director now owns 385,599 shares in the company, valued at approximately $4,584,772.11. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Amy M. Rothstein sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $14.83, for a total value of $222,450.00. Following the sale, the director now owns 75,032 shares in the company, valued at $1,112,724.56. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Arlo Technologies

Several institutional investors have recently modified their holdings of the stock. Jupiter Asset Management Ltd. purchased a new position in shares of Arlo Technologies in the first quarter worth about $885,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Arlo Technologies by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 948,042 shares of the company’s stock worth $9,025,000 after purchasing an additional 58,620 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Arlo Technologies by 11.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 65,686 shares of the company’s stock valued at $831,000 after purchasing an additional 6,757 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in shares of Arlo Technologies in the first quarter valued at approximately $797,000. Finally, Inspire Investing LLC purchased a new position in Arlo Technologies during the first quarter worth approximately $873,000. Institutional investors and hedge funds own 83.18% of the company’s stock.

Arlo Technologies Company Profile

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.