Analysts forecast that Arlo Technologies Inc (NYSE:ARLO) will report $77.72 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Arlo Technologies’ earnings. The highest sales estimate is $78.34 million and the lowest is $77.10 million. The business is expected to report its next quarterly earnings report on Tuesday, July 30th.
According to Zacks, analysts expect that Arlo Technologies will report full year sales of $393.41 million for the current financial year, with estimates ranging from $382.70 million to $404.84 million. For the next year, analysts anticipate that the firm will post sales of $499.40 million, with estimates ranging from $478.80 million to $520.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Arlo Technologies.
Arlo Technologies (NYSE:ARLO) last issued its earnings results on Tuesday, April 30th. The company reported ($0.55) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.55). Arlo Technologies had a negative return on equity of 42.61% and a negative net margin of 24.30%. The company had revenue of $57.88 million during the quarter, compared to the consensus estimate of $50.40 million. Arlo Technologies’s quarterly revenue was down 42.5% compared to the same quarter last year.
Separately, Zacks Investment Research downgraded Arlo Technologies from a “hold” rating to a “sell” rating in a research note on Monday, February 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $18.60.
Shares of NYSE ARLO traded down $0.04 during midday trading on Friday, hitting $3.71. 398,789 shares of the company’s stock were exchanged, compared to its average volume of 549,948. The company has a current ratio of 1.96, a quick ratio of 1.31 and a debt-to-equity ratio of 0.11. Arlo Technologies has a 12 month low of $3.28 and a 12 month high of $23.77. The company has a market capitalization of $276.58 million and a P/E ratio of -3.64.
A number of large investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP acquired a new stake in Arlo Technologies during the 1st quarter worth approximately $74,000. MetLife Investment Advisors LLC acquired a new stake in Arlo Technologies during the 1st quarter worth approximately $109,000. Metropolitan Life Insurance Co NY acquired a new stake in Arlo Technologies during the 1st quarter worth approximately $80,000. FMR LLC lifted its holdings in Arlo Technologies by 50.0% during the 1st quarter. FMR LLC now owns 11,138,225 shares of the company’s stock worth $46,001,000 after purchasing an additional 3,713,841 shares during the last quarter. Finally, BlueCrest Capital Management Ltd acquired a new stake in Arlo Technologies during the 1st quarter worth approximately $55,000. 85.78% of the stock is owned by institutional investors and hedge funds.
About Arlo Technologies
Arlo Technologies, Inc provides smart connected devices to monitor the environments in real-time with a Wi-Fi or a cellular network Internet connection in the Americas, Europe, the Middle-East and Africa, and the Asia Pacific regions. It offers Arlo Security Camera, a battery-operated Wi-Fi security camera; Arlo Q and Arlo Q Plus, an indoor wired solution that allow users to monitor their surroundings; Arlo Pro, a battery-operated weather-resistant Wi-Fi camera; Arlo Go, an LTE-enabled wire-free camera that provides untethered mobile monitoring; and Arlo Baby, a baby monitor with air quality and temperature sensors, motion and audio detection, and advanced night vision.
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