Maxim Group Reaffirms Buy Rating for Alarm.com Holdings, Inc. (ALRM)
Alarm.com Holdings, Inc. (NASDAQ:ALRM)‘s stock had its “buy” rating restated by analysts at Maxim Group in a research note issued to investors on Tuesday. They presently have a $57.00 price objective on the software maker’s stock. Maxim Group’s price objective would suggest a potential upside of 25.74% from the stock’s previous close.
The analysts wrote, “The recent Investor Day highlighted the durability of ALRM’s channel-focused, go-to-market approach. Details on the commercial market gives us confidence in our ARPU growth assumptions that underpin our Street-high price target of $57 PointCentral product well-positions ALRM to address the property management markets, which in aggregate represent another 44M “units” to the ~38M units we estimate that the core residential product will address. Management addresses confusion that arose during the Sep Q earnings call regarding the raised FY17 guidance as it relates to non-GAAP net income and EPS.””
ALRM has been the topic of a number of other reports. Roth Capital boosted their target price on Alarm.com Holdings from $43.50 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Credit Suisse Group reissued an “outperform” rating and issued a $46.00 price target (up from $37.00) on shares of Alarm.com Holdings in a report on Wednesday, August 9th. Northland Securities set a $45.00 price target on Alarm.com Holdings and gave the stock a “buy” rating in a report on Wednesday, August 9th. Imperial Capital cut Alarm.com Holdings from an “outperform” rating to an “in-line” rating and boosted their price target for the stock from $40.00 to $45.00 in a report on Thursday, August 10th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $34.00 price target (up from $29.00) on shares of Alarm.com Holdings in a report on Thursday, August 10th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Alarm.com Holdings has a consensus rating of “Buy” and an average target price of $46.90.
Alarm.com Holdings (NASDAQ:ALRM) last released its quarterly earnings results on Wednesday, November 8th. The software maker reported $0.27 EPS for the quarter, topping the consensus estimate of $0.20 by $0.07. The company had revenue of $90.00 million for the quarter, compared to analyst estimates of $83.04 million. Alarm.com Holdings had a negative return on equity of 42.00% and a net margin of 9.97%. The firm’s revenue was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 earnings per share. equities analysts expect that Alarm.com Holdings will post 0.83 EPS for the current year.
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In other Alarm.com Holdings news, insider David Hutz sold 3,500 shares of the stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $43.87, for a total transaction of $153,545.00. Following the completion of the transaction, the insider now directly owns 87,022 shares of the company’s stock, valued at approximately $3,817,655.14. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Stephen Trundle sold 78,542 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $45.25, for a total value of $3,554,025.50. The disclosure for this sale can be found here. Insiders have sold 356,714 shares of company stock worth $15,956,692 in the last 90 days. 46.80% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Riverbridge Partners LLC purchased a new stake in shares of Alarm.com Holdings in the second quarter valued at $50,898,000. Janus Henderson Group PLC purchased a new stake in shares of Alarm.com Holdings in the second quarter valued at $37,684,000. Vanguard Group Inc. lifted its holdings in shares of Alarm.com Holdings by 21.7% in the second quarter. Vanguard Group Inc. now owns 776,777 shares of the software maker’s stock valued at $29,229,000 after purchasing an additional 138,595 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Alarm.com Holdings by 61.6% in the second quarter. Renaissance Technologies LLC now owns 593,000 shares of the software maker’s stock valued at $22,315,000 after purchasing an additional 226,000 shares in the last quarter. Finally, Oak Ridge Investments LLC purchased a new stake in shares of Alarm.com Holdings in the second quarter valued at $19,059,000. 76.39% of the stock is owned by institutional investors and hedge funds.
About Alarm.com Holdings
Alarm.com Holdings, Inc is a platform solution for the connected property. The Company offers a suite of cloud-based solutions for the smart home and business, including interactive security, video monitoring, intelligent automation and energy management. The Company operates through two segments: Alarm.com and Other.
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