Arlo Technologies (NYSE:ARLO) Rating Increased to Outperform at Raymond James

Raymond James upgraded shares of Arlo Technologies (NYSE:ARLO) from a market perform rating to an outperform rating in a research note issued to investors on Wednesday morning, BenzingaRatingsTable reports. Raymond James currently has $6.00 target price on the stock.

Separately, Zacks Investment Research upgraded shares of Arlo Technologies from a sell rating to a hold rating in a report on Tuesday, July 14th.

Shares of ARLO opened at $4.22 on Wednesday. Arlo Technologies has a 1-year low of $1.20 and a 1-year high of $5.40. The company has a 50-day moving average of $2.82 and a 200 day moving average of $2.89. The firm has a market capitalization of $329.29 million, a price-to-earnings ratio of -3.80 and a beta of 1.12. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.79 and a quick ratio of 1.47.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.12. Arlo Technologies had a negative net margin of 22.25% and a negative return on equity of 43.93%. The company had revenue of $65.45 million during the quarter, compared to analyst estimates of $66.15 million. On average, equities analysts anticipate that Arlo Technologies will post -1.68 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of ARLO. Marshall Wace LLP bought a new stake in shares of Arlo Technologies in the 1st quarter valued at about $74,000. Metropolitan Life Insurance Co NY bought a new stake in shares of Arlo Technologies in the 1st quarter valued at about $80,000. FMR LLC raised its holdings in shares of Arlo Technologies by 50.0% in the 1st quarter. FMR LLC now owns 11,138,225 shares of the company’s stock valued at $46,001,000 after purchasing an additional 3,713,841 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Arlo Technologies in the 1st quarter valued at about $118,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Arlo Technologies in the 4th quarter valued at about $236,000. Institutional investors and hedge funds own 73.09% 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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