Maxim Group analyst Nehal Chokshi reiterated a Buy rating on Alarmcom (NASDAQ: ALRM) today and set a price target of $59. The company’s shares closed yesterday at $42.54.
Chokshi wrote:
“Mar Q EBITDA up 63% y/y on strong SaaS mix and unexpected spike in HW product GM. Slightly raised CY18 guidance for SaaS revenue and EBITDA appears conservative given a number of catalysts recently launched, in our view. Reiterate Buy rating and 12-month price target of $59.”
According to TipRanks.com, Chokshi is a 5-star analyst with an average return of 15.4% and a 63.6% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Palo Alto Networks.
Currently, the analyst consensus on Alarmcom is Strong Buy and the average price target is $51, representing a 19.9% upside.
In a report released today, Jefferies also maintained a Buy rating on the stock with a $51 price target.
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The company has a one-year high of $49.49 and a one-year low of $31.28. Currently, Alarmcom has an average volume of 446.5K.
Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ALRM in relation to earlier this year.
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Alarm.com Holdings, Inc. engages in the provision of wireless and web-enabled security system technology. The firm 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.
