Alarm.com (NASDAQ:ALRM) Updates FY24 Earnings Guidance

Alarm.com (NASDAQ:ALRM) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $2.25-$2.27 for the period, compared to the consensus EPS estimate of $2.07. The company issued revenue guidance of $933.7-$935.9 million, compared to the consensus revenue estimate of $926.50 million.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ALRM. StockNews.com upgraded shares of Alarm.com from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Jefferies Financial Group initiated coverage on shares of Alarm.com in a report on Tuesday. They issued a “buy” rating and a $65.00 target price for the company. Barclays dropped their price target on Alarm.com from $72.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, October 7th. The Goldman Sachs Group began coverage on Alarm.com in a research report on Friday, September 6th. They set a “neutral” rating and a $64.00 price objective for the company. Finally, Roth Mkm dropped their price objective on shares of Alarm.com from $78.00 to $73.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $66.40.

Alarm.com Stock Performance

NASDAQ:ALRM traded down $0.86 during midday trading on Thursday, reaching $57.14. The stock had a trading volume of 631,338 shares, compared to its average volume of 368,296. The company has a debt-to-equity ratio of 1.52, a current ratio of 9.25 and a quick ratio of 8.70. Alarm.com has a 1-year low of $51.19 and a 1-year high of $77.29. The firm’s fifty day simple moving average is $54.79 and its 200-day simple moving average is $61.42. The stock has a market capitalization of $2.81 billion, a P/E ratio of 28.86, a PEG ratio of 3.22 and a beta of 0.90.

Alarm.com (NASDAQ:ALRM) last released its earnings results on Thursday, August 8th. The software maker reported $0.58 EPS for the quarter, beating the consensus estimate of $0.49 by $0.09. Alarm.com had a net margin of 11.92% and a return on equity of 13.00%. The firm had revenue of $233.80 million during the quarter, compared to analysts’ expectations of $227.35 million. During the same period in the prior year, the company earned $0.33 EPS. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts forecast that Alarm.com will post 1.4 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Steve Valenzuela sold 7,400 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $60.27, for a total value of $445,998.00. Following the completion of the transaction, the chief financial officer now directly owns 37,500 shares of the company’s stock, valued at $2,260,125. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Daniel Ramos sold 9,476 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $61.81, for a total transaction of $585,711.56. Following the sale, the insider now directly owns 41,100 shares in the company, valued at $2,540,391. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steve Valenzuela sold 7,400 shares of Alarm.com stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $60.27, for a total value of $445,998.00. Following the completion of the transaction, the chief financial officer now directly owns 37,500 shares of the company’s stock, valued at $2,260,125. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

About Alarm.com

Alarm.com Holdings, Inc provides various Internet of Things (IoT) and solutions for residential, multi-family, small business, and enterprise commercial markets in North America and internationally. The company operates through two segments, Alarm.com and Other. It offers solutions to control and monitor security systems, as well as to IoT devices, including door locks, garage doors, thermostats, and video cameras; and video monitoring and analytics solutions, such as video analytics, escalated events, video doorbells, intelligent integration, live streaming, secure cloud storage, and video alerts.