Q2 2024 EPS Estimates for Arlo Technologies, Inc. (NYSE:ARLO) Reduced by Analyst

Arlo Technologies, Inc. (NYSE:ARLO) – Roth Capital reduced their Q2 2024 EPS estimates for shares of Arlo Technologies in a note issued to investors on Monday, July 22nd. Roth Capital analyst S. Searle now expects that the company will earn ($0.02) per share for the quarter, down from their prior estimate of ($0.01). The consensus estimate for Arlo Technologies’ current full-year earnings is ($0.33) per share. Roth Capital also issued estimates for Arlo Technologies’ Q3 2024 earnings at $0.00 EPS, Q4 2024 earnings at $0.01 EPS, Q2 2025 earnings at $0.05 EPS, Q3 2025 earnings at $0.04 EPS and FY2025 earnings at $0.16 EPS.

Several other research analysts have also recently weighed in on the stock. Craig Hallum increased their price target on shares of Arlo Technologies from $14.00 to $17.00 and gave the company a “buy” rating in a report on Friday, May 10th. BWS Financial restated a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research report on Tuesday, July 9th. Finally, Roth Mkm increased their target price on shares of Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a research report on Monday.

Arlo Technologies Stock Down 1.6 %

Arlo Technologies stock opened at $15.67 on Wednesday. The stock has a market cap of $1.53 billion, a P/E ratio of -87.05 and a beta of 1.83. Arlo Technologies has a twelve month low of $7.77 and a twelve month high of $17.64. The company’s 50-day moving average price is $14.02 and its two-hundred day moving average price is $11.85.

Arlo Technologies (NYSE:ARLO) last issued its earnings results on Thursday, May 9th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). The firm had revenue of $124.20 million during the quarter, compared to the consensus estimate of $124.06 million. Arlo Technologies had a negative net margin of 3.46% and a negative return on equity of 16.71%.

Insiders Place Their Bets

In related news, Director Amy M. Rothstein sold 25,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $13.37, for a total transaction of $334,250.00. Following the sale, the director now owns 76,271 shares in the company, valued at approximately $1,019,743.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Amy M. Rothstein sold 25,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $13.37, for a total transaction of $334,250.00. Following the sale, the director now owns 76,271 shares in the company, valued at approximately $1,019,743.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amy M. Rothstein sold 15,000 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $14.83, for a total transaction of $222,450.00. Following the sale, the director now owns 75,032 shares in the company, valued at approximately $1,112,724.56. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Arlo Technologies

A number of hedge funds have recently added to or reduced their stakes in ARLO. GAMMA Investing LLC raised its stake in shares of Arlo Technologies by 34.9% during the second quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock valued at $42,000 after acquiring an additional 840 shares during the last quarter. CWM LLC raised its stake in shares of Arlo Technologies by 90.5% during the second quarter. CWM LLC now owns 3,742 shares of the company’s stock valued at $49,000 after acquiring an additional 1,778 shares during the last quarter. Hennessy Advisors Inc. bought a new position in shares of Arlo Technologies during the second quarter valued at $138,000. Raymond James Trust N.A. bought a new position in shares of Arlo Technologies during the second quarter valued at $174,000. Finally, SG Americas Securities LLC bought a new position in shares of Arlo Technologies during the first quarter valued at $190,000. Institutional investors and hedge funds own 83.18% of the company’s stock.

Arlo Technologies Company Profile

Arlo Technologies, Inc, together with its subsidiaries, provides a cloud-based platform in the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions. The company offers Arlo Essential Cameras and Doorbells (2nd Generation) delivers smart home protection, including automated privacy shield, 180-degree field of view, and 2K video resolution; Arlo Home Security System, an all-in-one multi-sensor that provides access to security experts for monitoring and responding to emergency situations; Arlo Pro 5S, a wireless 2K video resolution security camera; Arlo Go 2, a camera for monitoring remote areas, large properties, construction sites, vacation homes, boat or RV slips, and hard-to-access areas; Arlo Ultra 2 provides 4K video with HDR, an ultra-wide, 180-degree field of view, auto zoom and tracking on moving objects, and color night vision; and Arlo Floodlight Camera, a wire-free floodlight camera.