|Bid||7.28 x 900|
|Ask||7.29 x 800|
|Day's Range||6.96 - 7.35|
|52 Week Range||1.20 - 10.49|
|Beta (5Y Monthly)||1.90|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 10, 2021 - May 14, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||10.00|
While Arlo Technologies, Inc. ( NYSE:ARLO ) might not be the most widely known stock at the moment, it received a lot...
Shares of Arlo Technologies (NYSE: ARLO) took off on Wednesday, rising 12.6% through 2:40 p.m. EST a day after reporting an earnings beat for its fiscal fourth quarter of 2020. Analysts had forecast that the maker of Internet-of-Things (IoT) wireless security cameras, audio and video doorbells, and floodlights would lose $0.18 per share (pro forma) on $111.6 million in sales in Q4. Instead, Arlo reported an $0.08-per-share loss, and sales of $114.8 million.
Arlo Technologies Inc delivered better-than-expected sales in the fourth quarter as the cloud-based infrastructure and smart connected device provider saw an increase in service revenue and an 89% increase in the number of new paid account additions. Meanwhile, shares of Arlo Technologies (ARLO) were up about 25% in pre-market trading today. Driven by operational efficiency, the company posted a net loss per share (EPS) of $0.08 during the fourth quarter, which was lower than analysts’ expectations of a net loss per share of $0.18. Revenue decreased 6.2% year-on-year to $114.8 million, topping analysts’ estimates of $111.57 million. Gross profit jumped 79% year-on-year to $24.5 million. For fiscal 2020, the company generated sales of $357.2 million, down from the $370 million posted in 2019. Diluted loss per share came in at $0.82, versus $1.42 in the comparable year-ago period. Arlo Technologies CEO Matthew McRae said, “We closed out the year with an 89.1% year-on-year paid account growth. Looking forward, we expect to roughly triple our paid account additions in 2021 and reach one million paid accounts by this time next year.” Looking ahead to 1Q, Arlo Technologies guided for revenue of between $70 million to $80 million and a net loss per share of $0.23 to $0.17. (See Arlo Technologies stock analysis on TipRanks) Last month, BWS Financial analyst Hamed Khorsand raised Arlo Technologies’ price target to $10 (49.7% upside potential) from $8 and reiterated a Buy rating. Khorsand said, “Arlo introduced new cameras for the holiday shopping season could have resulted in better than expected 4Q sell through.” According to TipRanks’ Smart Score system, Arlo Technologies gets a 7 out of 10, which indicates that the stock is likely to perform in-line with market averages. Related News: Home Depot’s 4Q Sales Exceed Analysts’ Estimates; Shares Fall Pre-Market Square Drops 5.7% On 4Q Payment Volume Miss Essential Properties’ 4Q AFFO Misses Estimates; Street Stays Bullish More recent articles from Smarter Analyst: Fisker Inks MOU With Foxconn To Develop EV; Shares Pop 22% Pre-Market Pebblebrook Reports Worse-Than-Expected 4Q Loss Amid Pandemic; Street Sees 10.8% Downside Blink Awarded EV Charging Station Network Contract In Vermont Lowe’s Surpasses 4Q Estimates; Plans $9B Share Buyback In 2021