Arlo Technologies (ARLO) Stock Sinks As Market Gains: What You Should Know
Arlo Technologies (ARLO) closed at $10.39 in the latest trading session, marking a -0.95% move from the prior day.
Arlo Technologies (ARLO) closed the most recent trading day at $10.39, moving -0.95% from the previous trading session. This change lagged the S&P 500's 0.64% gain on the day. Elsewhere, the Dow gained 0.68%, while the tech-heavy Nasdaq added 0.46%.
Coming into today, shares of the maker of smart connected devices had gained 32.45% in the past month. In that same time, the Computer and Technology sector gained 1.46%, while the S&P 500 gained 4.56%.
Investors will be hoping for strength from Arlo Technologies as it approaches its next earnings release. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $135.59 million, up 18.07% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Arlo Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Arlo Technologies currently has a Zacks Rank of #2 (Buy).
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 186, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Arlo Technologies, Inc. (ARLO): Free Stock Analysis Report
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