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

Alarm.com (NASDAQ:ALRM) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 2.250-2.270 for the period, compared to the consensus earnings per share estimate of 2.070. The company issued revenue guidance of $933.7 million-$935.9 million, compared to the consensus revenue estimate of $926.5 million. Alarm.com also updated its FY24 guidance to $2.25-$2.27 EPS.

Alarm.com Price Performance

NASDAQ ALRM traded down $0.86 during mid-day trading on Thursday, hitting $57.14. The stock had a trading volume of 661,493 shares, compared to its average volume of 368,436. The company has a 50 day simple moving average of $54.79 and a 200 day simple moving average of $61.42. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 28.86, a P/E/G ratio of 3.22 and a beta of 0.90. Alarm.com has a 52-week low of $51.19 and a 52-week high of $77.29. The company has a quick ratio of 8.70, a current ratio of 9.25 and a debt-to-equity ratio of 1.52.

Alarm.com (NASDAQ:ALRM) last released its quarterly earnings results on Thursday, August 8th. The software maker reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.09. The business had revenue of $233.80 million during the quarter, compared to the consensus estimate of $227.35 million. Alarm.com had a return on equity of 13.00% and a net margin of 11.92%. The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 EPS. Equities analysts forecast that Alarm.com will post 1.4 EPS for the current fiscal year.

Analyst Ratings Changes

ALRM has been the topic of several recent research reports. StockNews.com raised shares of Alarm.com from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Barclays lowered their target price on Alarm.com from $72.00 to $60.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th. Jefferies Financial Group initiated coverage on Alarm.com in a research note on Tuesday. They set a “buy” rating and a $65.00 price objective on the stock. The Goldman Sachs Group began coverage on Alarm.com in a research report on Friday, September 6th. They set a “neutral” rating and a $64.00 price objective for the company. Finally, Roth Mkm decreased their price target on shares of Alarm.com from $78.00 to $73.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $66.40.

Insider Buying and Selling

In other news, insider Daniel Ramos sold 9,476 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $61.81, for a total transaction of $585,711.56. Following the completion of the sale, the insider now directly owns 41,100 shares of the company’s stock, valued at $2,540,391. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Daniel Ramos sold 9,476 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $61.81, for a total transaction of $585,711.56. Following the completion of the sale, the insider now owns 41,100 shares of the company’s stock, valued at approximately $2,540,391. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steve Valenzuela sold 7,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $60.27, for a total transaction of $445,998.00. Following the completion of the transaction, the chief financial officer now owns 37,500 shares in the company, valued at $2,260,125. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

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.