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

Arlo Technologies, Inc. (NYSE:ARLO) – Research analysts at Roth Capital decreased their Q2 2024 earnings estimates for Arlo Technologies in a note issued to investors on Monday, July 22nd. Roth Capital analyst S. Searle now forecasts that the company will post earnings of ($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.

A number of other brokerages also recently commented on ARLO. BWS Financial reiterated a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a report on Tuesday, July 9th. Craig Hallum upped their price objective 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. Finally, Roth Mkm upped their price objective on shares of Arlo Technologies from $16.50 to $18.00 and gave the company a “buy” rating in a report on Monday.

Arlo Technologies Stock Performance

Shares of Arlo Technologies stock opened at $15.67 on Wednesday. The company has a market capitalization of $1.53 billion, a PE ratio of -87.05 and a beta of 1.83. The company has a 50-day simple moving average of $14.02 and a two-hundred day simple moving average of $11.85. Arlo Technologies has a one year low of $7.77 and a one year high of $17.64.

Arlo Technologies (NYSE:ARLO) last announced its earnings results on Thursday, May 9th. The company reported ($0.09) 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 return on equity of 16.71% and a negative net margin of 3.46%.

Institutional Investors Weigh In On Arlo Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of Arlo Technologies by 34.9% during the 2nd quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock worth $42,000 after purchasing an additional 840 shares during the period. CWM LLC grew its stake in shares of Arlo Technologies by 90.5% during the 2nd quarter. CWM LLC now owns 3,742 shares of the company’s stock worth $49,000 after purchasing an additional 1,778 shares during the period. Hennessy Advisors Inc. acquired a new stake in shares of Arlo Technologies during the 2nd quarter worth approximately $138,000. Raymond James Trust N.A. acquired a new stake in shares of Arlo Technologies during the 2nd quarter worth approximately $174,000. Finally, Strs Ohio grew its stake in shares of Arlo Technologies by 7.3% during the 4th quarter. Strs Ohio now owns 19,200 shares of the company’s stock worth $182,000 after purchasing an additional 1,300 shares during the period. Institutional investors and hedge funds own 83.18% of the company’s stock.

Insider Activity

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

About Arlo Technologies

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.