Brokerages Expect Arlo Technologies Inc (NYSE:ARLO) Will Post Earnings of -$0.31 Per Share

Equities research analysts predict that Arlo Technologies Inc (NYSE:ARLO) will announce ($0.31) earnings per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Arlo Technologies’ earnings, with the highest EPS estimate coming in at ($0.29) and the lowest estimate coming in at ($0.32). Arlo Technologies posted earnings per share of ($0.33) in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.1%. The business is scheduled to issue its next quarterly earnings results on Tuesday, February 4th.

According to Zacks, analysts expect that Arlo Technologies will report full year earnings of ($1.47) per share for the current year, with EPS estimates ranging from ($1.49) to ($1.44). For the next year, analysts forecast that the business will post earnings of ($0.92) per share, with EPS estimates ranging from ($1.07) to ($0.76). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Arlo Technologies.

Arlo Technologies (NYSE:ARLO) last announced its earnings results on Thursday, November 7th. The company reported ($0.32) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.05. Arlo Technologies had a negative net margin of 36.49% and a negative return on equity of 62.20%. The company had revenue of $106.12 million during the quarter, compared to the consensus estimate of $102.14 million. During the same period in the previous year, the firm posted ($0.05) earnings per share. The company’s revenue was down 19.1% on a year-over-year basis.

A number of equities analysts have weighed in on ARLO shares. Zacks Investment Research raised shares of Arlo Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, January 7th. Deutsche Bank started coverage on shares of Arlo Technologies in a research note on Monday, November 11th. They issued a “buy” rating and a $4.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $5.20.

In other Arlo Technologies news, CEO Matthew Blake Mcrae purchased 36,600 shares of the stock in a transaction dated Monday, November 11th. The stock was bought at an average price of $2.73 per share, for a total transaction of $99,918.00. Following the transaction, the chief executive officer now directly owns 319,799 shares in the company, valued at $873,051.27. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ralph E. Faison purchased 36,000 shares of the stock in a transaction dated Monday, November 11th. The shares were acquired at an average price of $2.88 per share, with a total value of $103,680.00. Following the transaction, the director now owns 182,725 shares in the company, valued at $526,248. The disclosure for this purchase can be found here. 0.74% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in shares of Arlo Technologies by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 899,603 shares of the company’s stock worth $3,607,000 after buying an additional 27,909 shares during the period. Russell Investments Group Ltd. grew its position in shares of Arlo Technologies by 14.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 320,896 shares of the company’s stock worth $1,094,000 after buying an additional 39,383 shares during the period. Johanson Financial Advisors Inc. acquired a new stake in shares of Arlo Technologies during the 4th quarter worth approximately $1,000,000. Morgan Stanley grew its position in shares of Arlo Technologies by 1,069.0% during the 2nd quarter. Morgan Stanley now owns 832,800 shares of the company’s stock worth $3,340,000 after buying an additional 761,562 shares during the period. Finally, UBS Asset Management Americas Inc. grew its position in shares of Arlo Technologies by 38.0% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 64,267 shares of the company’s stock worth $258,000 after buying an additional 17,700 shares during the period. Institutional investors own 82.54% of the company’s stock.

Shares of NYSE ARLO traded up $0.16 during trading on Tuesday, reaching $4.57. The company had a trading volume of 535,033 shares, compared to its average volume of 625,275. Arlo Technologies has a 52 week low of $2.66 and a 52 week high of $7.82. The stock has a market cap of $333.87 million, a PE ratio of -2.48 and a beta of 0.72. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.37 and a current ratio of 1.74. The business’s 50 day moving average price is $4.30 and its 200-day moving average price is $3.65.

About Arlo Technologies

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.

Featured Article: Dividend

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.