Vivint Smart Home, Inc. (NYSE:VVNT) Expected to Post Quarterly Sales of $307.14 Million

Wall Street analysts predict that Vivint Smart Home, Inc. (NYSE:VVNT) will announce $307.14 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Vivint Smart Home’s earnings, with the lowest sales estimate coming in at $303.50 million and the highest estimate coming in at $313.16 million. The company is expected to announce its next earnings results after the market closes on Friday, August 14th.

According to Zacks, analysts expect that Vivint Smart Home will report full-year sales of $1.24 billion for the current financial year, with estimates ranging from $1.24 billion to $1.25 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.38 billion, with estimates ranging from $1.34 billion to $1.43 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Vivint Smart Home.

Vivint Smart Home (NYSE:VVNT) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.29). The firm had revenue of $303.23 million during the quarter, compared to the consensus estimate of $308.14 million.

Several research analysts have weighed in on VVNT shares. Royal Bank of Canada reiterated a “hold” rating and set a $13.00 price objective on shares of Vivint Smart Home in a research report on Sunday, May 10th. Zacks Investment Research downgraded shares of Vivint Smart Home from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, JPMorgan Chase & Co. upgraded shares of Vivint Smart Home from a “neutral” rating to an “overweight” rating and set a $20.00 price objective for the company in a research note on Wednesday, July 22nd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $16.71.

NYSE:VVNT opened at $15.35 on Thursday. The business’s 50 day moving average price is $16.11. Vivint Smart Home has a 1-year low of $8.51 and a 1-year high of $32.00.

In other news, CEO Todd R. Pedersen acquired 25,367 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average cost of $11.58 per share, with a total value of $293,749.86. Following the completion of the purchase, the chief executive officer now directly owns 70,207 shares of the company’s stock, valued at approximately $812,997.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd R. Pedersen bought 20,614 shares of the business’s stock in a transaction on Monday, May 11th. The shares were acquired at an average price of $11.80 per share, with a total value of $243,245.20. Following the completion of the purchase, the chief executive officer now directly owns 20,614 shares of the company’s stock, valued at $243,245.20. The disclosure for this purchase can be found here. Insiders have purchased 50,302 shares of company stock valued at $588,631 in the last ninety days. 0.60% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in VVNT. Morgan Stanley acquired a new position in Vivint Smart Home during the first quarter worth about $40,000. Citigroup Inc. bought a new stake in shares of Vivint Smart Home during the 1st quarter valued at approximately $45,000. Strs Ohio bought a new stake in shares of Vivint Smart Home during the 2nd quarter valued at approximately $310,000. UBS Group AG acquired a new stake in Vivint Smart Home in the second quarter valued at approximately $446,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Vivint Smart Home during the 2nd quarter valued at $569,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

About Vivint Smart Home

Vivint Smart Home, Inc, together with its subsidiaries, engages in the sale, installation, servicing, and monitoring of smart home and security systems primarily in the United States and Canada. The company's smart home platform includes smart home operating system; Vivint Assist, an AI-driven smart home automation and assistance software; internally developed smart devices; and extensible partner-neutral ecosystem.

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Earnings History and Estimates for Vivint Smart Home (NYSE:VVNT)

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