Maxim Group analyst Nehal Chokshi reiterated a Buy rating on Alarmcom (ALRM) today and set a price target of $74. The company’s shares closed yesterday at $65.63, close to its 52-week high of $65.85.
Chokshi noted:
“Momentum from core ALRM subscriber adds and ongoing video adoption drives 4th consecutive quarter of 21% y/y core SaaS growth. Management raised FY19 guidance, which still implies SaaS and License revenue decelerates to 13% y/y growth, which we view as conservative given a number of upside catalysts. Reiterating Buy rating and raising 12-month price target to $74, from $69.”
According to TipRanks.com, Chokshi is a 5-star analyst with an average return of 12.2% and a 60.1% 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 $67.33.
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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 $320K.
Based on the recent corporate insider activity of 56 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.
