Brokerages forecast that Arlo Technologies Inc (NYSE:ARLO) will report sales of $101.33 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Arlo Technologies’ earnings, with the highest sales estimate coming in at $103.45 million and the lowest estimate coming in at $99.20 million. Arlo Technologies reported sales of $131.17 million during the same quarter last year, which indicates a negative year-over-year growth rate of 22.7%. The business is scheduled to report its next earnings results on Thursday, October 24th.
According to Zacks, analysts expect that Arlo Technologies will report full year sales of $399.61 million for the current financial year, with estimates ranging from $394.50 million to $404.72 million. For the next year, analysts expect that the business will report sales of $524.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Arlo Technologies.
Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.03. The firm had revenue of $83.60 million during the quarter, compared to analyst estimates of $77.23 million. Arlo Technologies had a negative return on equity of 45.02% and a negative net margin of 29.90%. Arlo Technologies’s quarterly revenue was down 24.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.29) EPS.
Several equities research analysts recently commented on the company. Zacks Investment Research downgraded Arlo Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Bank of America reiterated an “underperform” rating and issued a $3.50 price objective (down from $5.00) on shares of Arlo Technologies in a report on Wednesday, August 7th.
NYSE ARLO opened at $3.41 on Wednesday. Arlo Technologies has a one year low of $2.71 and a one year high of $15.12. The stock has a 50-day moving average of $3.40 and a 200 day moving average of $3.72. The company has a market capitalization of $254.52 million, a price-to-earnings ratio of -3.34 and a beta of 0.40. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.43 and a current ratio of 2.04.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP bought a new stake in Arlo Technologies in the 1st quarter worth about $74,000. Bank of Montreal Can grew its stake in shares of Arlo Technologies by 92.4% during the 2nd quarter. Bank of Montreal Can now owns 19,243 shares of the company’s stock valued at $77,000 after purchasing an additional 9,243 shares during the period. Metropolitan Life Insurance Co NY bought a new stake in shares of Arlo Technologies during the 1st quarter valued at about $80,000. Eidelman Virant Capital bought a new stake in shares of Arlo Technologies during the 2nd quarter valued at about $80,000. Finally, Virginia Retirement Systems ET AL bought a new stake in shares of Arlo Technologies during the 2nd quarter valued at about $92,000. Institutional investors own 86.93% 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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