Maxim Group started coverage on shares of Alarm.com Holdings Inc. (NASDAQ:ALRM) in a research note published on Thursday morning. The brokerage issued a buy rating and a $37.00 price target on the stock.
Several other research firms also recently issued reports on ALRM. Zacks Investment Research raised shares of Alarm.com Holdings from a hold rating to a buy rating and set a $32.00 price target for the company in a research report on Thursday, November 17th. Citigroup Inc. downgraded shares of Alarm.com Holdings to a market perform rating in a research report on Tuesday, August 16th. They noted that the move was a valuation call. Goldman Sachs Group Inc. lifted their price target on shares of Alarm.com Holdings from $24.00 to $30.00 and gave the company a buy rating in a research report on Tuesday, August 16th. Roth Capital initiated coverage on shares of Alarm.com Holdings in a report on Monday, October 3rd. They set a buy rating and a $33.50 price objective on the stock. Finally, Imperial Capital lifted their price objective on shares of Alarm.com Holdings from $24.50 to $30.00 and gave the stock an in-line rating in a report on Tuesday, August 16th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Alarm.com Holdings presently has a consensus rating of Buy and a consensus price target of $30.05.
Alarm.com Holdings (NASDAQ:ALRM) opened at 28.36 on Thursday. Alarm.com Holdings has a 12 month low of $14.00 and a 12 month high of $34.43. The stock has a 50 day moving average of $29.62 and a 200 day moving average of $27.32. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 128.91 and a beta of 1.76.
Alarm.com Holdings (NASDAQ:ALRM) last posted its quarterly earnings results on Monday, November 14th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.08. Alarm.com Holdings had a net margin of 4.21% and a negative return on equity of 20.70%. The business earned $67.80 million during the quarter, compared to the consensus estimate of $59.73 million. During the same quarter last year, the firm posted $0.14 EPS. Alarm.com Holdings’s revenue was up 25.6% compared to the same quarter last year. Equities analysts anticipate that Alarm.com Holdings will post $0.59 EPS for the current fiscal year.
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In related news, insider Jean-Paul Martin sold 50,000 shares of the business’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $24.69, for a total value of $1,234,500.00. Following the sale, the insider now directly owns 172,904 shares in the company, valued at approximately $4,268,999.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Daniel Ramos sold 40,000 shares of the business’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $29.32, for a total value of $1,172,800.00. Following the completion of the sale, the vice president now owns 211,364 shares in the company, valued at $6,197,192.48. The disclosure for this sale can be found here. 78.50% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new stake in shares of Alarm.com Holdings during the second quarter worth about $165,000. Evanson Asset Management LLC purchased a new stake in shares of Alarm.com Holdings during the second quarter worth about $7,474,000. Bank of Montreal Can purchased a new stake in shares of Alarm.com Holdings during the second quarter worth about $2,648,000. Bank of New York Mellon Corp boosted its stake in shares of Alarm.com Holdings by 114.6% in the second quarter. Bank of New York Mellon Corp now owns 67,562 shares of the company’s stock worth $1,731,000 after buying an additional 36,074 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of Alarm.com Holdings by 25.4% in the second quarter. California State Teachers Retirement System now owns 21,631 shares of the company’s stock worth $554,000 after buying an additional 4,376 shares in the last quarter. Institutional investors and hedge funds own 62.37% of the company’s stock.
About Alarm.com Holdings
Alarm.com Holdings, Inc is a platform solution for the connected home. The Company, through its cloud-based services, makes connected home technology accessible to millions of home and business owners. The Company operates through two segments: Alarm.com and Other. The Company’s Alarm.com segment represents its cloud-based platform for the connected home and related connected home solutions.
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