Maxim Group reiterated their buy rating on shares of AlarmCom (NASDAQ:ALRM) in a research report sent to investors on Friday, AnalystRatings.com reports. Maxim Group currently has a $79.00 price target on the software maker’s stock.
“Momentum from core ALRM subscriber adds and ongoing video adoption drives core SaaS growth of 17% y/y. Management raises FY19 guidance consistent with the 2Q19 beat, which we view as conservative given a number of upside catalysts. Reiterating Buy rating and 12-month price target of $79.”,” the firm’s analyst commented.
Several other equities research analysts also recently commented on ALRM. First Analysis downgraded shares of AlarmCom from a strong-buy rating to an outperform rating and lifted their price objective for the stock from $70.00 to $75.00 in a research note on Friday, May 10th. Bank of America reiterated a buy rating and set a $78.00 price objective (up from $67.00) on shares of AlarmCom in a research note on Friday, May 3rd. Northland Securities reiterated a buy rating and set a $73.00 price objective on shares of AlarmCom in a research note on Friday, May 10th. Jefferies Financial Group downgraded shares of AlarmCom from a buy rating to a hold rating and lowered their price objective for the stock from $71.00 to $66.00 in a research note on Monday, May 13th. Finally, Zacks Investment Research downgraded shares of AlarmCom from a hold rating to a sell rating in a research note on Tuesday, May 14th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. AlarmCom currently has an average rating of Hold and an average price target of $68.90.
AlarmCom (NASDAQ:ALRM) last announced its earnings results on Thursday, August 8th. The software maker reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.08. The company had revenue of $121.66 million during the quarter, compared to the consensus estimate of $109.45 million. AlarmCom had a net margin of 4.55% and a negative return on equity of 86.44%. AlarmCom’s revenue was up 16.4% compared to the same quarter last year. During the same period last year, the firm earned $0.34 earnings per share. Research analysts predict that AlarmCom will post 1.11 EPS for the current fiscal year.
In related news, CFO Steve Valenzuela sold 1,083 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $57.99, for a total transaction of $62,803.17. Following the completion of the transaction, the chief financial officer now owns 41,632 shares of the company’s stock, valued at $2,414,239.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Daniel Ramos sold 1,269 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $58.42, for a total transaction of $74,134.98. Following the transaction, the vice president now directly owns 29,860 shares of the company’s stock, valued at approximately $1,744,421.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,304 shares of company stock valued at $192,544. 26.00% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Intrust Bank NA increased its holdings in AlarmCom by 2.1% in the first quarter. Intrust Bank NA now owns 9,150 shares of the software maker’s stock valued at $594,000 after buying an additional 186 shares in the last quarter. Redmond Asset Management LLC increased its holdings in AlarmCom by 1.2% in the first quarter. Redmond Asset Management LLC now owns 16,196 shares of the software maker’s stock valued at $1,051,000 after buying an additional 187 shares in the last quarter. Signaturefd LLC increased its holdings in AlarmCom by 125.0% in the first quarter. Signaturefd LLC now owns 450 shares of the software maker’s stock valued at $29,000 after buying an additional 250 shares in the last quarter. We Are One Seven LLC increased its holdings in AlarmCom by 4.3% in the second quarter. We Are One Seven LLC now owns 6,444 shares of the software maker’s stock valued at $344,000 after buying an additional 264 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in AlarmCom by 0.5% in the first quarter. Arizona State Retirement System now owns 54,259 shares of the software maker’s stock valued at $3,521,000 after buying an additional 294 shares in the last quarter. 93.53% of the stock is owned by institutional investors.
Alarm.com Holdings, Inc provides cloud-based software platform solutions for smart residential and commercial properties in the United States and internationally. The company provides interactive security solutions to control and monitor their security systems, as well as connected security devices, including door locks, motion sensors, thermostats, garage doors, and video cameras; and high definition video monitoring solutions, such as live streaming, smart clip capture, secure cloud storage, video alerts, continuous HD recording, and commercial video surveillance solutions.
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