Alarm.com (NASDAQ:ALRM) Releases FY 2024 Earnings Guidance

Alarm.com (NASDAQ:ALRM) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.140-2.160 for the period, compared to the consensus estimate of 2.140. The company issued revenue guidance of $914.5 million-$931.0 million, compared to the consensus revenue estimate of $925.2 million. Alarm.com also updated its FY24 guidance to $2.14-$2.16 EPS.

Alarm.com Stock Up 0.3 %

NASDAQ ALRM traded up $0.18 on Thursday, hitting $68.79. The stock had a trading volume of 454,110 shares, compared to its average volume of 250,103. The business’s fifty day moving average price is $70.31 and its 200 day moving average price is $64.04. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.46 and a quick ratio of 4.91. Alarm.com has a 52-week low of $46.83 and a 52-week high of $77.29. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 45.33, a price-to-earnings-growth ratio of 3.87 and a beta of 0.94.

Alarm.com (NASDAQ:ALRM) last released its quarterly earnings results on Thursday, February 22nd. The software maker reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). Alarm.com had a return on equity of 11.61% and a net margin of 9.19%. The firm had revenue of $226.20 million during the quarter, compared to analysts’ expectations of $224.93 million. During the same period in the prior year, the firm posted $0.33 earnings per share. Alarm.com’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities research analysts anticipate that Alarm.com will post 1.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Alarm.com from $62.00 to $70.00 and gave the company a neutral rating in a report on Friday, February 23rd. StockNews.com raised shares of Alarm.com from a buy rating to a strong-buy rating in a report on Friday, March 15th. TheStreet raised shares of Alarm.com from a c+ rating to a b- rating in a report on Friday, February 23rd. Finally, Barclays boosted their price objective on shares of Alarm.com from $66.00 to $78.00 and gave the company an equal weight rating in a report on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Alarm.com currently has a consensus rating of Buy and a consensus price target of $68.83.

Insider Activity at Alarm.com

In related news, insider Daniel Kerzner sold 28,433 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $69.98, for a total value of $1,989,741.34. Following the transaction, the insider now directly owns 57,351 shares of the company’s stock, valued at approximately $4,013,422.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Alarm.com news, insider Daniel Kerzner sold 28,433 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $69.98, for a total transaction of $1,989,741.34. Following the transaction, the insider now owns 57,351 shares of the company’s stock, valued at $4,013,422.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Ramos sold 8,250 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $74.44, for a total value of $614,130.00. Following the completion of the sale, the insider now directly owns 39,700 shares of the company’s stock, valued at $2,955,268. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,532 shares of company stock valued at $8,116,333. 5.60% of the stock is owned by corporate insiders.

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.