Bank of America Lowers Arlo Technologies (ARLO) to Underperform

Arlo Technologies (NYSE:ARLO) was downgraded by equities researchers at Bank of America from a “neutral” rating to an “underperform” rating in a research report issued on Wednesday, The Fly reports.

A number of other analysts have also weighed in on ARLO. Zacks Investment Research upgraded shares of Arlo Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, December 12th. Cowen lowered shares of Arlo Technologies from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, Imperial Capital reiterated an “outperform” rating and set a $29.00 target price (down from $39.00) on shares of Arlo Technologies in a report on Friday, January 4th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $27.00.

NYSE ARLO opened at $7.57 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.74 and a current ratio of 2.42. Arlo Technologies has a 12-month low of $6.60 and a 12-month high of $23.77.

Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings results on Tuesday, February 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.02. Arlo Technologies had a negative net margin of 7.22% and a negative return on equity of 17.19%. The business had revenue of $129.30 million during the quarter, compared to analyst estimates of $128.58 million. During the same period in the prior year, the business posted $0.10 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. Equities analysts forecast that Arlo Technologies will post -1.03 EPS for the current year.

Institutional investors have recently bought and sold shares of the company. Legal & General Group Plc purchased a new stake in shares of Arlo Technologies during the third quarter worth about $27,000. Contravisory Investment Management Inc. purchased a new stake in Arlo Technologies in the fourth quarter worth about $47,000. Virtu Financial LLC purchased a new stake in Arlo Technologies in the fourth quarter worth about $109,000. American International Group Inc. purchased a new stake in Arlo Technologies in the third quarter worth about $114,000. Finally, Pentwater Capital Management LP purchased a new stake in Arlo Technologies in the third quarter worth about $145,000. Institutional investors own 25.92% of the company’s stock.

Arlo Technologies Company Profile

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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The Fly

Analyst Recommendations for Arlo Technologies (NYSE:ARLO)

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