Alarm.com (NASDAQ:ALRM) Releases FY 2024 Earnings Guidance

by · The Cerbat Gem

Alarm.com (NASDAQ:ALRM – Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.250-2.270 for the period, compared to the consensus estimate of 2.070. The company issued revenue guidance of $933.7 million-$935.9 million, compared to the consensus revenue estimate of $926.5 million. Alarm.com also updated its FY24 guidance to $2.25-$2.27 EPS.

Analyst Upgrades and Downgrades

ALRM has been the topic of a number of research analyst reports. Jefferies Financial Group began coverage on shares of Alarm.com in a research note on Tuesday. They issued a “buy” rating and a $65.00 price target on the stock. Barclays dropped their price objective on shares of Alarm.com from $72.00 to $60.00 and set an “equal weight” rating for the company in a report on Monday, October 7th. Roth Mkm dropped their price target on shares of Alarm.com from $78.00 to $73.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. StockNews.com raised Alarm.com from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Finally, The Goldman Sachs Group initiated coverage on Alarm.com in a research note on Friday, September 6th. They issued a “neutral” rating and a $64.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $66.40.

View Our Latest Analysis on ALRM

Alarm.com Stock Performance

Shares of ALRM stock traded down $0.86 during trading hours on Thursday, hitting $57.14. The stock had a trading volume of 661,493 shares, compared to its average volume of 368,436. The stock’s 50 day moving average is $54.79 and its 200 day moving average is $61.42. The firm has a market capitalization of $2.81 billion, a PE ratio of 28.86, a PEG ratio of 3.22 and a beta of 0.90. Alarm.com has a twelve month low of $51.19 and a twelve month high of $77.29. The company has a debt-to-equity ratio of 1.52, a current ratio of 9.25 and a quick ratio of 8.70.

Alarm.com (NASDAQ:ALRM – Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The software maker reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. Alarm.com had a net margin of 11.92% and a return on equity of 13.00%. The company had revenue of $233.80 million for the quarter, compared to analyst estimates of $227.35 million. During the same period in the previous year, the business posted $0.33 earnings per share. Alarm.com’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, research analysts forecast that Alarm.com will post 1.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Daniel Ramos sold 9,476 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $61.81, for a total value of $585,711.56. Following the transaction, the insider now owns 41,100 shares of the company’s stock, valued at approximately $2,540,391. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Daniel Ramos sold 9,476 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $61.81, for a total transaction of $585,711.56. Following the transaction, the insider now directly owns 41,100 shares in the company, valued at $2,540,391. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Steve Valenzuela sold 7,400 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $60.27, for a total transaction of $445,998.00. Following the completion of the sale, the chief financial officer now owns 37,500 shares of the company’s stock, valued at approximately $2,260,125. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 5.60% of the stock is owned by insiders.

About Alarm.com

(Get Free Report)

Alarm.com Holdings, Inc provides various Internet of Things (IoT) and solutions for residential, multi-family, small business, and enterprise commercial markets in North America and internationally. The company operates through two segments, Alarm.com and Other. It offers solutions to control and monitor security systems, as well as to IoT devices, including door locks, garage doors, thermostats, and video cameras; and video monitoring and analytics solutions, such as video analytics, escalated events, video doorbells, intelligent integration, live streaming, secure cloud storage, and video alerts.

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