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

Arlo Technologies (NYSE:ARLO) updated its second quarter 2024 earnings guidance on Thursday. 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 reiterated a buy rating and set a $17.00 price objective on shares of Arlo Technologies in a report on Wednesday, April 24th.

Arlo Technologies Trading Down 2.1 %

Shares of ARLO stock opened at $13.94 on Friday. The firm has a fifty day simple moving average of $11.92 and a two-hundred day simple moving average of $10.07. Arlo Technologies has a 12 month low of $6.88 and a 12 month high of $14.27. The firm has a market capitalization of $1.35 billion, a PE ratio of -58.06 and a beta of 1.87.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.04. The firm had revenue of $135.09 million during the quarter, compared to the consensus estimate of $135.05 million. Arlo Technologies had a negative return on equity of 22.27% and a negative net margin of 4.49%. On average, equities analysts predict that Arlo Technologies will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Arlo Technologies

In related news, General Counsel Brian Busse sold 56,973 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $11.68, for a total value of $665,444.64. Following the transaction, the general counsel now owns 604,905 shares in the company, valued at $7,065,290.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Arlo Technologies news, General Counsel Brian Busse sold 56,973 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $11.68, for a total value of $665,444.64. Following the sale, the general counsel now directly owns 604,905 shares in the company, valued at approximately $7,065,290.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kurtis Joseph Binder sold 99,038 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $10.93, for a total transaction of $1,082,485.34. Following the transaction, the chief financial officer now owns 720,800 shares of the company’s stock, valued at $7,878,344. The disclosure for this sale can be found here. Insiders have sold a total of 330,386 shares of company stock worth $3,658,179 over the last three months. 2.90% of the stock is currently owned by insiders.

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.