Imperial Capital initiated coverage on shares of Arlo Technologies (NYSE:ARLO) in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $39.00 target price on the stock.

“We are initiating coverage of ARLO shares with an Outperform rating and a one-year price target of $39. Our price target is about 70% above the recent share price. California, ARLO is the leading provider of do-it-yourself (DIY) cameras in North America retail. With over 8.6 million devices shipped, and over 2.2 million registered users, Arlo controls 48% market share, as of July 2018, based on dollar sales in the U.S. consumer market. Initial Public Offering terms and use of proceeds.”,” Imperial Capital’s analyst wrote.

ARLO stock opened at $20.88 on Tuesday. Arlo Technologies has a 1-year low of $18.30 and a 1-year high of $23.77.

In other news, insider Brian Busse acquired 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The stock was purchased at an average cost of $16.00 per share, for a total transaction of $40,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Patrick Cs Lo acquired 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The stock was purchased at an average price of $16.00 per share, with a total value of $400,000.00. The disclosure for this purchase can be found here. Insiders purchased 32,500 shares of company stock valued at $520,000 over the last 90 days.

Arlo Technologies Company Profile

Arlo Technologies, Inc provides smart connected devices to monitor the environments in real-time with a Wi-Fi or a cellular network Internet connection in the Americas, Europe, the Middle-East and Africa, and the Asia Pacific regions. It offers Arlo Security Camera, a battery-operated Wi-Fi security camera; Arlo Q and Arlo Q Plus, an indoor wired solution that allow users to monitor their surroundings; Arlo Pro, a battery-operated weather-resistant Wi-Fi camera; Arlo Go, an LTE-enabled wire-free camera that provides untethered mobile monitoring; and Arlo Baby, a baby monitor with air quality and temperature sensors, motion and audio detection, and advanced night vision.

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Analyst Recommendations for Arlo Technologies (NYSE:ARLO)

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