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Arlo Technologies (ARLO) Stock Sinks As Market Gains: What You Should Know
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Arlo Technologies (ARLO - Free Report) closed the most recent trading day at $8.87, moving -0.45% from the previous trading session. This change lagged the S&P 500's 1.43% gain on the day. Elsewhere, the Dow gained 1.02%, while the tech-heavy Nasdaq added 0.32%.
Heading into today, shares of the maker of smart connected devices had gained 7.48% over the past month, outpacing the Computer and Technology sector's gain of 5.48% and the S&P 500's gain of 5.65% in that time.
Wall Street will be looking for positivity from Arlo Technologies as it approaches its next earnings report date. The company is expected to report EPS of -$0.03, unchanged from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $115.15 million, up 39.47% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.21 per share and revenue of $504.32 million. These totals would mark changes of -90.91% and +15.9%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Arlo Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 33.18% lower within the past month. Arlo Technologies is currently a Zacks Rank #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 200, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ARLO in the coming trading sessions, be sure to utilize Zacks.com.
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Arlo Technologies (ARLO) Stock Sinks As Market Gains: What You Should Know
Arlo Technologies (ARLO - Free Report) closed the most recent trading day at $8.87, moving -0.45% from the previous trading session. This change lagged the S&P 500's 1.43% gain on the day. Elsewhere, the Dow gained 1.02%, while the tech-heavy Nasdaq added 0.32%.
Heading into today, shares of the maker of smart connected devices had gained 7.48% over the past month, outpacing the Computer and Technology sector's gain of 5.48% and the S&P 500's gain of 5.65% in that time.
Wall Street will be looking for positivity from Arlo Technologies as it approaches its next earnings report date. The company is expected to report EPS of -$0.03, unchanged from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $115.15 million, up 39.47% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.21 per share and revenue of $504.32 million. These totals would mark changes of -90.91% and +15.9%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Arlo Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 33.18% lower within the past month. Arlo Technologies is currently a Zacks Rank #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 200, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ARLO in the coming trading sessions, be sure to utilize Zacks.com.