Alarm.com (NASDAQ:ALRM) Updates FY 2024 Earnings Guidance

Alarm.com (NASDAQ:ALRM) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 2.140-2.160 for the period, compared to the consensus earnings per share estimate of 2.140. The company issued revenue guidance of $914.5 million-$931.0 million, compared to the consensus revenue estimate of $925.2 million. Alarm.com also updated its FY24 guidance to $2.14-$2.16 EPS.

Alarm.com Stock Up 0.3 %

Shares of NASDAQ ALRM traded up $0.18 during trading on Thursday, reaching $68.79. 454,110 shares of the stock were exchanged, compared to its average volume of 250,103. The business’s 50-day moving average price is $70.31 and its 200 day moving average price is $64.04. Alarm.com has a twelve month low of $46.83 and a twelve month high of $77.29. The company has a quick ratio of 4.91, a current ratio of 5.46 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 45.33, a price-to-earnings-growth ratio of 3.87 and a beta of 0.94.

Alarm.com (NASDAQ:ALRM) last posted its earnings results on Thursday, February 22nd. The software maker reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The firm had revenue of $226.20 million for the quarter, compared to analyst estimates of $224.93 million. Alarm.com had a return on equity of 11.61% and a net margin of 9.19%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 earnings per share. As a group, equities analysts forecast that Alarm.com will post 1.39 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on ALRM. Barclays boosted their target price on shares of Alarm.com from $66.00 to $78.00 and gave the company an equal weight rating in a research note on Friday, February 23rd. TheStreet upgraded shares of Alarm.com from a c+ rating to a b- rating in a research note on Friday, February 23rd. StockNews.com upgraded shares of Alarm.com from a buy rating to a strong-buy rating in a research note on Friday, March 15th. Finally, JPMorgan Chase & Co. upped their price target on shares of Alarm.com from $62.00 to $70.00 and gave the stock a neutral rating in a research report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Buy and a consensus target price of $68.83.

Insider Activity at Alarm.com

In related news, insider Daniel Kerzner sold 28,433 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $69.98, for a total value of $1,989,741.34. Following the completion of the transaction, the insider now owns 57,351 shares in the company, valued at approximately $4,013,422.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Alarm.com news, insider Daniel Kerzner sold 28,433 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $69.98, for a total value of $1,989,741.34. Following the completion of the sale, the insider now directly owns 57,351 shares of the company’s stock, valued at approximately $4,013,422.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steve Valenzuela sold 1,716 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $70.00, for a total transaction of $120,120.00. Following the completion of the sale, the chief financial officer now directly owns 35,784 shares of the company’s stock, valued at $2,504,880. The disclosure for this sale can be found here. Insiders sold 111,532 shares of company stock worth $8,116,333 in the last 90 days. Corporate insiders own 5.60% of the company’s stock.

About Alarm.com

Alarm.com Holdings, Inc provides various Internet of Things (IoT) and solutions for residential, multi-family, small business, and enterprise commercial markets in North America and internationally. The company operates through two segments, Alarm.com and Other. It offers solutions to control and monitor security systems, as well as to IoT devices, including door locks, garage doors, thermostats, and video cameras; and video monitoring and analytics solutions, such as video analytics, escalated events, video doorbells, intelligent integration, live streaming, secure cloud storage, and video alerts.