Are Analysts Expecting A Better 2020 For Arlo Technologies Inc. (ARLO)?


    BlackRock Fund Advisors has recently announced that it has increased stake in Arlo Technologies Inc. (NYSE:ARLO) by 1.79%. After grabbing 10.96 million shares, the institutional investor is now in possession of 0.19 million shares of the Industrials Company. The new investment brought the stake of investor firm to 14.05% having worth around $46.25 million. Moreover, PRIMECAP Management Co. increased its share by 68020.0 to have a control over 5.37 million shares. And The Vanguard Group, Inc. raised its holdings to 0.21 million shares by acquiring 5.29 million shares or 6.78% of the stake.

    Arlo Technologies Inc. (ARLO) concluded trading on 08/26/20 at a closing price of $6.82, with 1.27 million shares of worth about $8.64 million changed hands on the day. Weekly performance of the stock remained positive as price took a surge of 14.05% during that period and on Wednesday the price saw a gain of about 3.96%. Currently the company’s common shares owned by public are about 77.89M shares, out of which, 76.03M shares are available for trading.

    A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 4 analysts are covering the ARLO stock and their offered price forecasts bring an average price target of $7.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $8.00 and could fall to a lowest price of $6.00. Analysts also issued an outlook of 2.20 for the Arlo Technologies Inc. stock for next 12 months. The stock’s current price level is 2.57% above of average price target set by the analysts, while a rise to estimated low would result in loss of -13.67 for the stock. However, touching the estimated high of $8.00 would mean a gain of 14.75% for the stock.

    According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 28 times over the past 12 months. They bought 1,284,218 shares in 17 of the transactions. In 11 selling transactions, insiders dumped 73,564 shares.

    iShares Core S&P Small Cap ETF, PRIMECAP Odyssey Aggressive Growt, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in Arlo Technologies Inc. iShares Core S&P Small Cap ETF is currently holding 4.87 million shares of worth totaling $20.55 million. The company recently came buying 68659.0 shares which brought its stake up to 6.24% of the company’s outstanding shares. PRIMECAP Odyssey Aggressive Growt bought 45900.0 shares, after which its hold over company’s outstanding shares expand to 3.40%, leaving 2.65 million shares with the mutual fund that have a worth of about $11.18 million. Vanguard Total Stock Market Index, after buying 2.47 million shares, have now control over 3.17% of the stake in the company. It holds 0.0 shares of worth $10.42 million.

    Arlo Technologies Inc. (NYSE: ARLO) started trading at $6.58, above $0.02 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $6.82, or with a gain of 3.96%. Stock saw a price change of 14.05% in past 5 days and over the past one month there was a price change of 107.29%. Year-to-date (YTD), ARLO shares are showing a performance of 62.00% which increased to 140.14% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.20 but also hit the highest price of $7.30 during that period. While comparing its average daily trading volume of 1.70 million shares, we see that about 1.27 million changed hands on the day. The stock is currently trading 21.81% above its 20-day simple moving average (SMA20), while that difference is up 73.44% for SMA50 and it goes to 106.24% higher than SMA200.

    BlackRock Fund Advisors acquired 10.96 million shares of Arlo Technologies Inc. having value of about $46.25 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.19 million shares in the company valued at close to $1315605.28, or have control over 1.79% stake in the company. Arlo Technologies Inc. (NYSE: ARLO) currently have 77.89M outstanding shares and institutions hold larger chunk of about 73.00% of that. Holding of mutual funds in the company is about 39.75% while other institutional holders and individual stake holders have control over 83.66% and 32.48% of the stake respectively.

    The stock has a current market capitalization of $500.59M. It has posted earnings per share of -$1.05 in the same period. It has Quick Ratio of 1.30 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ARLO, volatility over the week remained 8.67% while standing at 11.97% over the month.

    Analysts are in expectations that Arlo Technologies Inc. (ARLO) stock would likely to be making an EPS of -$0.25 in the current quarter, while forecast for next quarter ESPS is -$0.21 and it is -$0.85 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.26 which is -$0.24 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.32 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -12.60% while it is estimated to increase by 22.70% in next year.

    Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Raymond James on July 29, 2020 offering an Outperform rating for the stock and assigned a target price of $6 to it. Coverage by Deutsche Bank stated Arlo Technologies Inc. (ARLO) stock as a Buy in their note to investors on November 12, 2019, suggesting a price target of $4 for the stock. On November 12, 2019, Deutsche Bank Initiated their recommendations, while on August 07, 2019, BofA/Merrill Reiterated their ratings for the stock with a price target of $3.50. Stock get an Outperform rating from Imperial Capital on February 07, 2019.


    Please enter your comment!
    Please enter your name here