Fly Intel: Top five analyst upgrades » 10:0307/2907/29/20
KHC, ARLO, LB, AMD, DGX
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Kraft Heinz (KHC) upgraded to Overweight from Neutral at Piper Sandler with analyst Michael Lavery saying he expects greater food at home trends to drive a "sustainable lift" at least into 2021. 2. Arlo Technologies (ARLO) upgraded to Outperform from Market Perform at Raymond James with analyst Adam Tindle saying recent checks suggest this past quarter has been a turning point in a number of ways. 3. L Brands (LB) upgraded to Overweight from Neutral at JPMorgan with analyst Matthew Boss saying the top and bottom-line "inflection" in Q2, second half of 2020 gross profit dollars returning to growth, $400M in cost savings through fiscal 2020, 250 Victoria's Secret store closures and a commitment to establish Bath and Body Works as pure-play public company creates a risk/reward profile that is "too hard to ignore." 4. AMD (AMD) was upgraded to Positive from Neutral at Susquehanna and to Outperform from Neutral at Exane BNP Paribas. 5. Quest Diagnostics (DGX) upgraded to Overweight from Sector Weight at KeyBanc with analyst Donald Hooker saying he sees "material upside potential" to near-term consensus expectations. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Arlo Technologies rises 29.4% » 10:0007/2907/29/20
Arlo Technologies is up…
Arlo Technologies is up 29.4%, or 97c to $4.26.
Arlo Technologies upgraded to Outperform from Market Perform at Raymond James » 07:3607/2907/29/20
Raymond James analyst…
Raymond James analyst Adam Tindle upgraded Arlo Technologies to Outperform from Market Perform with a $6 price target. Tindle tells investors in a research note that recent checks suggest this past quarter has been a turning point in a number of ways. The analyst thinks the vicious commoditization cycle that has derailed the industry since 2018 has ended, with the firm's checks suggesting ASPs have gone from double-digit declines to double-digit growth and that Arlo's market share has increased alongside this industry improvement.
Arlo Technologies upgraded to Outperform from Market Perform at Raymond James » 04:5407/2907/29/20
Raymond James analyst…
Raymond James analyst Adam Tindle upgraded Arlo Technologies to Outperform from Market Perform with a $6 price target.
|Over a week ago|
Arlo Technologies rises 37.4% » 12:0007/2107/21/20
Arlo Technologies is up…
Arlo Technologies is up 37.4%, or $1.04 to $3.82.
Arlo Technologies announces agreement with Securitas Services USA » 08:1407/2107/21/20
Arlo Technologies announced an agreement with Securitas Security Services USA, the global leader in protective security services, to integrate Arlo SmartCloud into the Securitas USA monitoring platform. Arlo SmartCloud, the SaaS version of Arlo Smart that is currently deployed as part of Arlo's award-winning security camera solutions, will enable Securitas to bolster its protective guarding services by adding Arlo cameras for centralized remote guarding of its high volume of assets. Securitas' commercial clients can also rely on Arlo SmartCloud AI-enabled security cameras including Arlo Pro 3 or Arlo Go to efficiently provide Remote Guarding services to sites that should have little to no unknown traffic, with advanced push notifications that allow users to quickly know whether people, vehicles, packages or even animals may be trespassing. Securitas intends to use Arlo's SmartCloud capabilities to deploy its new Remote Guarding Go, or RGGo, service.
|Over a month ago|
Arlo Technologies withdraws 2020 guidance on COVID-19 uncertainty » 16:1405/1105/11/20
The company said,…
The company said, "Due to the uncertainty presented by the ongoing COVID-19 pandemic Arlo is withdrawing full year guidance."
Arlo Technologies sees Q2 EPS (46c)-(39c), consensus (31c) » 16:1305/1105/11/20
Sees Q2 revenue…
Sees Q2 revenue $50M-$60M, consensus $70.66M.
Arlo Technologies reports Q1 EPS (34c), consensus (35c) » 16:1305/1105/11/20
Reports Q1 revenue…
Reports Q1 revenue $65.5M, consensus $63.88M. The company said, "The team at Arlo showed their dedication to our business in delivering a solid first quarter despite facing unprecedented challenges across all aspects of business execution. While our supply chain and internal teams are largely at full force, we are seeing disruptions in our distribution channels that impede our ability to serve our customer in the near term. However, we saw both record growth of paid subscribers and record service revenue, as our revenue for paid accounts comfortably surpassed pre-paid in the quarter. These are important data points that reflect our new business model phasing in and we expect continued strength in the services business as we complete our new product launches throughout 2020. Our latest launch, Arlo's new Pro 3 Floodlight, the first wire-free floodlight in the world, is now available in our channels, brings our award winning Pro 3 technology to a large, fast-growing market segment and is well-received by customers and critics alike. We feel that we are well positioned with a solid balance sheet, best-in-class product offering, and strengthening services momentum."
|Over a quarter ago|
Arlo Technologies names Gordon Mattingly CFO » 18:4904/2904/29/20
Arlo Technologies announced that Christine Gorjanc, Chief Financial Officer, principal financial officer and principal accounting officer of Arlo, will retire from her role, effective June 15, 2020. Gordon Mattingly, Arlo's Senior Vice President, Finance since July 2018, will take over Gorjanc's roles, effective as of Gorjanc's retirement. Mattingly previously served in various senior leadership roles in Finance and Operations at Netgear over the past decade and was an instrumental part of the separation and launch of Arlo. Gorjanc has agreed to remain in the CFO role until June 15 to ensure a smooth transition. "During my time here, I have been impressed with the strategic and technical expertise that Christine brings to her job and the dedication she has for Arlo's mission. It is equally clear that she has built strong teams across the organizations she leads," said Matthew McRae, Chief Executive Officer. "I am extremely excited to work closely with Gordon who has been involved in every aspect of Arlo's financial engagements since our IPO and will be an excellent leader as we drive for profitability."