Arlo Technologies (NYSE:ARLO) Issues Q2 2024 Earnings Guidance

Arlo Technologies (NYSE:ARLO) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.060-0.120 for the period, compared to the consensus earnings per share estimate of 0.090. The company issued revenue guidance of $120.0 million-$130.0 million, compared to the consensus revenue estimate of $124.7 million.

Analysts Set New Price Targets

Separately, BWS Financial reaffirmed a buy rating and set a $17.00 price objective on shares of Arlo Technologies in a research note on Wednesday, April 24th.

Arlo Technologies Stock Performance

Shares of Arlo Technologies stock traded down $0.29 on Thursday, hitting $13.94. The company’s stock had a trading volume of 1,816,848 shares, compared to its average volume of 1,001,659. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of -58.06 and a beta of 1.87. The firm has a fifty day moving average price of $11.92 and a 200-day moving average price of $10.07. Arlo Technologies has a 1 year low of $6.88 and a 1 year high of $14.27.

Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.04. Arlo Technologies had a negative return on equity of 22.27% and a negative net margin of 4.49%. The business had revenue of $135.09 million during the quarter, compared to analysts’ expectations of $135.05 million. As a group, analysts forecast that Arlo Technologies will post -0.06 EPS for the current year.

Insider Buying and Selling at Arlo Technologies

In related news, General Counsel Brian Busse sold 42,161 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $10.97, for a total transaction of $462,506.17. Following the completion of the transaction, the general counsel now owns 661,878 shares in the company, valued at approximately $7,260,801.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, General Counsel Brian Busse sold 42,161 shares of Arlo Technologies stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $10.97, for a total value of $462,506.17. Following the sale, the general counsel now directly owns 661,878 shares of the company’s stock, valued at $7,260,801.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew Blake Mcrae sold 132,214 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $10.95, for a total value of $1,447,743.30. Following the completion of the transaction, the chief executive officer now directly owns 2,314,950 shares of the company’s stock, valued at $25,348,702.50. The disclosure for this sale can be found here. Insiders have sold a total of 330,386 shares of company stock valued at $3,658,179 over the last ninety days. Corporate insiders own 2.90% 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.