In a report released today, Nehal Chokshi from Maxim Group reiterated a Buy rating on Alarmcom (ALRM), with a price target of $69. The company’s shares closed yesterday at $47.25.
Chokshi observed:
“Momentum from core home subscriber adds, plus ongoing video adoption drives 20% SaaS growth, above consensus Dec Q guide and solid initial 2019 outlook. Video analytics appears to be a material differentiator and ARPU driver. Remain excited about PointCentral. Reiterating Buy rating and 12-month price target of $69.”
According to TipRanks.com, Chokshi is a 4-star analyst with an average return of 10.6% and a 57.6% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Palo Alto Networks.
Alarmcom has an analyst consensus of Strong Buy, with a price target consensus of $61, a 29.1% upside from current levels. In a report released today, Jefferies also maintained a Buy rating on the stock with a $60 price target.
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Based on Alarmcom’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $7.65 million. In comparison, last year the company had a net profit of $15.1 million.
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock.
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Alarm.com Holdings, Inc. engages in the provision of wireless and web-enabled security system technology. The company offers security, video monitoring, and energy management solutions. It operates through the Alarm.com and Other segments. The Alarm.com segment represents cloud-based platform for the connected home and related connected home solutions.
