Alarmcom (ALRM) Gets a Buy Rating from Maxim Group

By Austin Angelo

In a report released yesterday, Nehal Chokshi from Maxim Group reiterated a Buy rating on Alarmcom (ALRMResearch Report), with a price target of $79. The company’s shares closed yesterday at $50.29.

Chokshi commented:

“Momentum from core ALRM subscriber adds and ongoing video adoption drives core SaaS growth of 17% y/y. Management raises FY19 guidance consistent with the 2Q19 beat, which we view as conservative given a number of upside catalysts. Reiterating Buy rating and 12-month price target of $79.”

According to TipRanks.com, Chokshi is a 4-star analyst with an average return of 4.5% and a 51.6% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Palo Alto Networks.

Alarmcom has an analyst consensus of Moderate Buy, with a price target consensus of $62.50, a 24.3% upside from current levels. In a report released yesterday, Northland Securities also assigned a Buy rating to the stock with a $73 price target.

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The company has a one-year high of $71.50 and a one-year low of $40.92. Currently, Alarmcom has an average volume of 476.6K.

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Alarm.com Holdings, Inc. engages in the provision of wireless and web-enabled security system technology. The company offers security, video monitoring, and energy management solutions. It operates through the Alarm.com and Other segments. The Alarm.com segment represents cloud-based platform for the connected home and related connected home solutions.