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In the latest trading session, Arlo Technologies (ARLO) closed at $8.64, marking a -0.58% move from the previous day. This move lagged the S&P 500's daily gain of 0.69%. At the same time, the Dow added 0.78%, and the tech-heavy Nasdaq gained 0.28%.
Prior to today's trading, shares of the maker of smart connected devices had lost 16.36% over the past month. This has lagged the Computer and Technology sector's loss of 8.19% and the S&P 500's loss of 5.29% in that time.
Investors will be hoping for strength from Arlo Technologies as it approaches its next earnings release, which is expected to be March 1, 2022. On that day, Arlo Technologies is projected to report earnings of -$0.03 per share, which would represent year-over-year growth of 62.5%. Meanwhile, our latest consensus estimate is calling for revenue of $135.74 million, up 18.2% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Arlo Technologies. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Arlo Technologies is currently a Zacks Rank #3 (Hold).
Investors should also note Arlo Technologies's current valuation metrics, including its Forward P/E ratio of 1738. Its industry sports an average Forward P/E of 49.9, so we one might conclude that Arlo Technologies is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 152, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Arlo Technologies, Inc. (ARLO) : Free Stock Analysis Report
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