Alarm.com (NASDAQ:ALRM) Issues FY24 Earnings Guidance

Alarm.com (NASDAQ:ALRM) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $2.14-$2.16 for the period, compared to the consensus earnings per share estimate of $2.14. The company issued revenue guidance of $914.5-$931.0 million, compared to the consensus revenue estimate of $925.58 million. Alarm.com also updated its FY 2024 guidance to 2.140-2.160 EPS.

Analyst Upgrades and Downgrades

ALRM has been the topic of several recent analyst reports. StockNews.com raised shares of Alarm.com from a buy rating to a strong-buy rating in a report on Friday, March 15th. JPMorgan Chase & Co. upped their price target on shares of Alarm.com from $62.00 to $70.00 and gave the company a neutral rating in a report on Friday, February 23rd. TheStreet raised shares of Alarm.com from a c+ rating to a b- rating in a report on Friday, February 23rd. Finally, Barclays upped their price target on shares of Alarm.com from $66.00 to $78.00 and gave the company an equal weight rating in a report on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $68.83.

Alarm.com Price Performance

ALRM traded up $0.18 on Thursday, reaching $68.79. The company had a trading volume of 496,021 shares, compared to its average volume of 250,103. The company has a fifty day moving average of $70.18 and a 200-day moving average of $64.08. The company has a market capitalization of $3.45 billion, a P/E ratio of 44.96, a PEG ratio of 3.87 and a beta of 0.94. The company has a current ratio of 5.46, a quick ratio of 4.91 and a debt-to-equity ratio of 0.72. Alarm.com has a one year low of $46.83 and a one year high of $77.29.

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

Insider Buying and Selling at Alarm.com

In other Alarm.com news, CEO Stephen Trundle sold 50,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $73.80, for a total transaction of $3,690,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,289,343 shares of the company’s stock, valued at $95,153,513.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Steve Valenzuela sold 7,083 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $75.34, for a total value of $533,633.22. Following the completion of the sale, the chief financial officer now directly owns 37,500 shares of the company’s stock, valued at $2,825,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen Trundle sold 50,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $73.80, for a total transaction of $3,690,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,289,343 shares of the company’s stock, valued at $95,153,513.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,532 shares of company stock valued at $8,116,333. 5.60% of the stock is currently owned by corporate insiders.

Alarm.com Company Profile

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.