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

Arlo Technologies (NYSE:ARLO) issued an update on its second quarter 2024 earnings guidance on Thursday morning. 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.

Arlo Technologies Stock Performance

Shares of NYSE:ARLO traded down $0.29 during trading on Thursday, reaching $13.94. The company had a trading volume of 1,816,848 shares, compared to its average volume of 1,001,659. The firm’s fifty day moving average is $11.92 and its 200 day moving average is $10.07. The firm has a market capitalization of $1.35 billion, a PE ratio of -58.06 and a beta of 1.87. Arlo Technologies has a twelve month low of $6.88 and a twelve month high of $14.27.

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

Analyst Upgrades and Downgrades

Separately, BWS Financial reissued a buy rating and issued a $17.00 price target on shares of Arlo Technologies in a research report on Wednesday, April 24th.

Insider Buying and Selling at Arlo Technologies

In other news, CFO Kurtis Joseph Binder sold 99,038 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $10.93, for a total value of $1,082,485.34. Following the sale, the chief financial officer now directly owns 720,800 shares of the company’s stock, valued at $7,878,344. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Matthew Blake Mcrae sold 132,214 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $10.95, for a total value of $1,447,743.30. Following the sale, the chief executive officer now owns 2,314,950 shares in the company, valued at approximately $25,348,702.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kurtis Joseph Binder sold 99,038 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $10.93, for a total value of $1,082,485.34. Following the sale, the chief financial officer now owns 720,800 shares in the company, 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 90 days. Insiders own 2.90% of the company’s stock.

Arlo Technologies Company Profile

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.