Maxim Group analyst Nehal Chokshi maintained a Buy rating on Alarmcom (NASDAQ: ALRM) today and set a price target of $69. The company’s shares closed yesterday at $54.82, close to its 52-week high of $59.05.
Chokshi noted:
“Deeper dive into property management (PointCentral) and demand response (EnergyHub) gives us confidence these divisions are on path to becoming material portions of ALRM’s business. International likely a material driver of subscriber add outperformance, while domestic business strength continues, in our view (see page 3). Raising long-term estimates and 12-month price target to $69, from $59 (see pages 4- 6).”
According to TipRanks.com, Chokshi is a 5-star analyst with an average return of 18.4% and a 65.4% 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 Moderate Buy, with a price target consensus of $55, implying a 0.3% upside from current levels. In a report issued on September 14, Merrill Lynch also upgraded the stock to Buy with a $65 price target.
.
See today’s analyst top recommended stocks >>
Based on Alarmcom’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $10.73 million. In comparison, last year the company had a net profit of $9.86 million.
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
