Shares of Arlo Technologies Inc (NYSE:ARLO) have earned a consensus rating of “Hold” from the seven analysts that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $12.67.

Several equities research analysts have recently weighed in on ARLO shares. Bank of America reiterated an “underperform” rating and set a $3.50 target price (down previously from $5.00) on shares of Arlo Technologies in a research note on Wednesday, August 7th. Zacks Investment Research upgraded shares of Arlo Technologies from a “hold” rating to a “buy” rating and set a $3.50 target price for the company in a research note on Monday.

Several institutional investors and hedge funds have recently made changes to their positions in ARLO. New York State Common Retirement Fund purchased a new stake in Arlo Technologies during the fourth quarter valued at approximately $131,000. Northern Trust Corp raised its position in Arlo Technologies by 352.8% during the fourth quarter. Northern Trust Corp now owns 567,289 shares of the company’s stock valued at $5,661,000 after purchasing an additional 441,992 shares during the period. Geode Capital Management LLC raised its position in Arlo Technologies by 952.1% during the fourth quarter. Geode Capital Management LLC now owns 812,241 shares of the company’s stock valued at $8,106,000 after purchasing an additional 735,042 shares during the period. Jane Street Group LLC purchased a new stake in Arlo Technologies during the fourth quarter valued at approximately $191,000. Finally, Millennium Management LLC raised its position in Arlo Technologies by 2,088.0% during the fourth quarter. Millennium Management LLC now owns 219,347 shares of the company’s stock valued at $2,189,000 after purchasing an additional 209,322 shares during the period. Institutional investors and hedge funds own 84.17% of the company’s stock.

Shares of ARLO traded down $0.13 during mid-day trading on Wednesday, hitting $2.94. 555,692 shares of the company’s stock were exchanged, compared to its average volume of 1,621,100. Arlo Technologies has a fifty-two week low of $2.71 and a fifty-two week high of $23.77. The stock has a market cap of $229.83 million and a price-to-earnings ratio of -2.88. The company has a 50 day simple moving average of $4.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.04 and a quick ratio of 1.43.

Arlo Technologies (NYSE:ARLO) last announced its earnings results on Tuesday, August 6th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.03. Arlo Technologies had a negative net margin of 29.90% and a negative return on equity of 45.02%. The business had revenue of $83.60 million during the quarter, compared to the consensus estimate of $77.23 million. During the same quarter in the prior year, the firm earned ($0.29) earnings per share. The business’s quarterly revenue was down 24.7% compared to the same quarter last year. On average, analysts expect that Arlo Technologies will post -1.61 earnings per share for the current year.

About Arlo Technologies

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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