Arlo Technologies (NYSE:ARLO) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Arlo Technologies (NYSE:ARLO) from a buy rating to a hold rating in a report published on Monday morning, Zacks.com reports.

According to Zacks, “Arlo Technologies, Inc. product design, wireless connectivity, cloud infrastructure and cutting-edge AI capabilities focuses on delivering a seamless, smart home experience. The company’s cloud-based platform provides users with visibility, insight and a powerful means to help protect and connect in real-time. Its connected devices, including wire-free smart Wi-Fi and LTE-enabled cameras, advanced baby monitors and smart security lights. Arlo Technologies, Inc. is based in San Jose, United States. “

Several other equities research analysts have also commented on ARLO. Raymond James upped their target price on Arlo Technologies from $10.00 to $11.00 and gave the company an outperform rating in a research report on Thursday, May 6th. Deutsche Bank Aktiengesellschaft upped their target price on Arlo Technologies from $7.00 to $11.00 in a research report on Wednesday, February 24th.

NYSE ARLO opened at $6.79 on Monday. The company has a 50-day moving average of $6.38. Arlo Technologies has a 12 month low of $2.16 and a 12 month high of $10.49. The company has a market cap of $551.86 million, a price-to-earnings ratio of -7.38 and a beta of 1.76.

Arlo Technologies (NYSE:ARLO) last released its quarterly earnings results on Tuesday, May 4th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.18. Arlo Technologies had a negative return on equity of 51.54% and a negative net margin of 19.41%. As a group, equities analysts expect that Arlo Technologies will post -0.68 earnings per share for the current year.

In other Arlo Technologies news, CFO Gordon Mattingly sold 23,000 shares of the stock in a transaction that occurred on Tuesday, May 11th. The stock was sold at an average price of $5.99, for a total value of $137,770.00. Following the transaction, the chief financial officer now owns 652,182 shares in the company, valued at $3,906,570.18. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders acquired 635 shares of company stock worth $4,209. Corporate insiders own 1.60% of the company’s stock.

Large investors have recently made changes to their positions in the business. A.R.T. Advisors LLC bought a new position in Arlo Technologies in the fourth quarter worth approximately $80,000. Victory Capital Management Inc. bought a new position in Arlo Technologies in the fourth quarter worth approximately $83,000. Orion Capital Management LLC bought a new position in Arlo Technologies in the fourth quarter worth approximately $124,000. Malaga Cove Capital LLC boosted its holdings in Arlo Technologies by 16.7% in the first quarter. Malaga Cove Capital LLC now owns 15,925 shares of the company’s stock worth $100,000 after acquiring an additional 2,275 shares in the last quarter. Finally, Pinz Capital Management LP purchased a new stake in shares of Arlo Technologies in the first quarter worth approximately $107,000. Institutional investors and hedge funds own 68.47% of the company’s stock.

Arlo Technologies Company Profile

Arlo Technologies, Inc, together with its subsidiaries, provides smart connected devices to monitor the environments in real-time with a Wi-Fi or a cellular connection in the Americas, Europe, the Middle-East and Africa, and the Asia Pacific regions. It offers Arlo Q and Arlo Q Plus, an indoor wired solution that allow users to monitor their surroundings; Arlo Go, a LTE-enabled wire-free camera that provides untethered mobile security; Arlo Baby, a baby monitor with air quality and temperature sensors, motion and audio detection, and advanced night vision; Arlo Chime, a product that plugs into standard wall outlet and pairs with the Arlo Audio Doorbell to play various ringtones or act as a siren; and Arlo Ultra, an integrated spotlight and crystal-clear two-way audio with advanced noise cancellations camera.

Featured Article: Why is the ROA ratio important?

Get a free copy of the Zacks research report on Arlo Technologies (ARLO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Arlo Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arlo Technologies and related companies with MarketBeat.com's FREE daily email newsletter.