An interesting stock that came up in some of our conversations today is Arlo Technologies, Inc. (NYSE:ARLO). At current price of $3.24, the shares have already added 0.18 points (5.88% higher) from its previous close of $3.06. Should you buy or avoid them? The stock sets an active trading volume day with a reported 200055 contracts so far this session. ARLO shares had a relatively better volume day versus average trading capacity of 655.96 thousand shares, but with a 73.17 million float and a -3.47% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ARLO stock indicates that the average analyst price target is $6.5 per share. This means the stock has a potential increase of 100.62% from where the ARLO share price has been trading recently which is between $2.94 and $3.195.
During the recent trading session for Arlo Technologies, Inc. (NYSE:ARLO), the company witnessed their stock drop by $-0.02 over a week and tumble down $-0.37 from the price 20 days ago. When compared to their established 52-week high of $15.12, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 10/25/18. The recent low of $2.71 stood for a -78.57% since 08/23/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Arlo Technologies, Inc., the two-week RSI stands at 47.47. This figure suggests that ARLO stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current ARLO readings is similarly very revealing as it has a stochastic reading of 22.53% at this stage. This figure means that ARLO share price today is being overbought.
Technical chart claims that Arlo Technologies, Inc. (ARLO) would settle between $3.19/share to $3.32/share level. However, if the stock price goes below the $2.93 mark, then the market for Arlo Technologies, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $2.81 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.08. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at BofA/Merrill lifted target price for shares of ARLO but were stick to Underperform recommendation for the stock in their opinion released on August 07. The price target has been raised from $5 to $3.50. Imperial Capital analysts again handed out a Outperform recommendation to Arlo Technologies, Inc. (NYSE:ARLO) stock but they lifted target price for the shares in a flash note issued to investors on February 07. The target price has been raised from $29 to $7.50. Analysts at BofA/Merrill lowered the stock to a Underperform call from its previous Neutral recommendation, in a research note that dated back to February 06.
ARLO equity has an average rating of 2, with the figure leaning towards a bullish end. 2 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 1 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 1 analysts rated Arlo Technologies, Inc. (NYSE:ARLO) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, ARLO stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 83.6. Arlo Technologies, Inc. current P/B ratio of 1.1 means it is trading at a discount against its industry’s 3.1.
Arlo Technologies, Inc. (ARLO)’s current-quarter revenues are projected to climb by nearly -22.1% to hit $102140, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -14.9% from $472020 to a noteworthy $401630. At the other end of the current quarter income statement, Arlo Technologies, Inc. is expected to see its adjusted earnings surge by roughly -640% to hit $-0.37 per share. For the fiscal year, ARLO’s earnings are projected to climb by roughly -253.8% to hit $-1.38 per share.