Analyst Hamed Khorsand from BWS Financial maintained a Buy rating on Arlo Technologies (ARLO – Research Report) and keeping the price target at $17.00.
Hamed Khorsand has given his Buy rating due to a combination of factors that suggest a positive outlook for Arlo Technologies. Arlo’s recent changes to their subscription plans are expected to maintain consumer habits, as early indicators show little change since the new pricing was introduced. Additionally, the company’s leading position in the home monitoring IP camera market provides a solid foundation for growth, and their adjustment of the lowest subscription tier pricing in response to cloud costs demonstrates a proactive approach to maintaining profitability.
Furthermore, the anticipation of subscriber growth, particularly following the conversion of holiday period hardware sales to paid subscriptions, factors into the Buy rating. Despite Arlo’s stock returning to its pre-fourth quarter report level, Khorsand sees a clear growth trend that has not yet been fully recognized by the market, implying that the company’s valuation does not yet reflect its potential. This misvaluation presents an opportunity for investors, which is why Khorsand recommends Arlo Technologies as a Buy with a 12-month target of $17.
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Arlo Technologies (ARLO) Company Description:
Arlo Technologies, Inc. is a cloud infrastructure and mobile app with a variety of smart connected devices that transform the way people experience the connected lifestyle. Its cloud-based platform creates a seamless, end-to-end connected lifestyle solution that provides users visibility, insight and a powerful means to help protect and connect with the people and places. The company was founded in January 2018 and is headquartered in San Jose, CA.
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