Wall Street analysts expect that Arlo Technologies Inc (NYSE:ARLO) will post earnings per share of ($0.49) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Arlo Technologies’ earnings, with the highest EPS estimate coming in at ($0.48) and the lowest estimate coming in at ($0.50). The company is scheduled to issue its next earnings report after the market closes on Tuesday, April 30th.
According to Zacks, analysts expect that Arlo Technologies will report full year earnings of ($1.40) per share for the current financial year, with EPS estimates ranging from ($1.43) to ($1.37). For the next financial year, analysts anticipate that the company will post earnings of ($0.94) per share, with EPS estimates ranging from ($1.02) to ($0.86). Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Arlo Technologies.
Arlo Technologies (NYSE:ARLO) last released its quarterly earnings results on Tuesday, February 5th. The company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.04. Arlo Technologies had a negative return on equity of 31.78% and a negative net margin of 14.49%. The company had revenue of $129.30 million during the quarter, compared to the consensus estimate of $128.58 million. During the same quarter last year, the business posted $0.10 earnings per share. Arlo Technologies’s revenue was up 3.6% compared to the same quarter last year.
Several equities research analysts have recently issued reports on ARLO shares. Zacks Investment Research upgraded Arlo Technologies from a “sell” rating to a “hold” rating in a report on Friday, December 28th. Imperial Capital restated an “outperform” rating and set a $29.00 price objective (down previously from $39.00) on shares of Arlo Technologies in a report on Friday, January 4th. Cowen cut Arlo Technologies from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $25.00 to $7.50 in a report on Wednesday, February 6th. Finally, Bank of America cut Arlo Technologies from a “neutral” rating to an “underperform” rating in a report on Wednesday, February 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Arlo Technologies has a consensus rating of “Hold” and an average target price of $18.60.
In other news, Director Ralph E. Faison bought 50,000 shares of Arlo Technologies stock in a transaction that occurred on Wednesday, February 27th. The shares were purchased at an average price of $4.24 per share, for a total transaction of $212,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew Blake Mcrae bought 45,000 shares of Arlo Technologies stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average price of $4.46 per share, for a total transaction of $200,700.00. The disclosure for this purchase can be found here.
Institutional investors have recently modified their holdings of the stock. Legal & General Group Plc acquired a new position in Arlo Technologies in the third quarter valued at $27,000. Contravisory Investment Management Inc. acquired a new position in Arlo Technologies in the fourth quarter valued at $47,000. State of Alaska Department of Revenue acquired a new position in Arlo Technologies in the first quarter valued at $103,000. Virtu Financial LLC acquired a new position in Arlo Technologies in the fourth quarter valued at $109,000. Finally, Louisiana State Employees Retirement System acquired a new position in Arlo Technologies in the first quarter valued at $115,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.
Shares of ARLO stock traded down $0.17 during mid-day trading on Monday, hitting $3.78. 9,499 shares of the company’s stock were exchanged, compared to its average volume of 717,764. Arlo Technologies has a fifty-two week low of $3.37 and a fifty-two week high of $23.77. The company has a quick ratio of 1.39, a current ratio of 1.83 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $293.29 million and a price-to-earnings ratio of -3.69.
About Arlo Technologies
Arlo Technologies, Inc provides smart connected devices to monitor the environments in real-time with a Wi-Fi or a cellular network Internet connection in the Americas, Europe, the Middle-East and Africa, and the Asia Pacific regions. It offers Arlo Security Camera, a battery-operated Wi-Fi security camera; Arlo Q and Arlo Q Plus, an indoor wired solution that allow users to monitor their surroundings; Arlo Pro, a battery-operated weather-resistant Wi-Fi camera; Arlo Go, an LTE-enabled wire-free camera that provides untethered mobile monitoring; and Arlo Baby, a baby monitor with air quality and temperature sensors, motion and audio detection, and advanced night vision.
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