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 $44.94.
Chokshi observed:
“June Q EBITDA was up 47% y/y on core SaaS revenue (up 21% y/y) and unanticipated HW product sales and GM strength. CY18 guidance raised across the board, which continues to appear conservative given continued core outperformance and a number of catalysts expected to ramp heading into CY19. 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 16.6% and a 64.7% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Palo Alto Networks, and Vuzix Corporation.
Currently, the analyst consensus on Alarmcom is a Moderate Buy with an average price target of $49.29, implying a 9.7% upside from current levels. In a report issued on July 25, Roth Capital also reiterated a Buy rating on the stock with a $51 price target.
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Alarmcom’s market cap is currently $2.13B and has a P/E ratio of 61.56. The company has a Price to Book ratio of 8.49.
Based on the recent corporate insider activity of 68 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.
