Cowen Lowers Arlo Technologies (ARLO) to Market Perform

Arlo Technologies (NYSE:ARLO) was downgraded by equities research analysts at Cowen from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday, The Fly reports.

Several other equities research analysts also recently weighed in on ARLO. Zacks Investment Research raised Arlo Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, December 12th. Imperial Capital reissued 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. Two 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 currently has a consensus rating of “Hold” and an average price target of $27.00.

Shares of ARLO opened at $7.57 on Wednesday. Arlo Technologies has a 52-week low of $6.60 and a 52-week high of $23.77. The company has a current ratio of 2.42, a quick ratio of 1.74 and a debt-to-equity ratio of 0.07.

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

Institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc acquired a new position in Arlo Technologies during the 3rd quarter worth about $27,000. Contravisory Investment Management Inc. acquired a new position in Arlo Technologies during the 4th quarter worth about $47,000. American International Group Inc. acquired a new position in Arlo Technologies during the 3rd quarter worth about $114,000. Pentwater Capital Management LP acquired a new position in Arlo Technologies during the 3rd quarter worth about $145,000. Finally, Virtu Financial LLC acquired a new position in Arlo Technologies during the 4th quarter worth about $109,000. 25.92% of the stock is currently owned by hedge funds and other institutional investors.

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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The Fly

Analyst Recommendations for Arlo Technologies (NYSE:ARLO)

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