Alarm (ALRM) Received its Third Buy in a Row

After Raymond James and Northland Securities gave Alarm (NASDAQ: ALRM) a Buy rating last month, the company received another Buy, this time from Roth Capital. Analyst Darren Aftahi maintained a Buy rating on Alarm today and set a price target of $110.00. The company’s shares closed last Thursday at $88.74.

According to TipRanks.com, Aftahi is a top 100 analyst with an average return of 58.5% and a 61.4% success rate. Aftahi covers the Technology sector, focusing on stocks such as Remark Holdings, Digital Turbine, and Fathom Holdings.

Currently, the analyst consensus on Alarm is a Strong Buy with an average price target of $110.00, representing a 18.4% upside. In a report released yesterday, Raymond James also maintained a Buy rating on the stock with a $115.00 price target.

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Based on Alarm’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $159 million and net profit of $36.08 million. In comparison, last year the company earned revenue of $128 million and had a net profit of $17.69 million.

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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. The Other segment focuses on the research and development of home and commercial automation, as well as energy management products and services. The company was founded by Jean-Paul Martin and Alison J. Slavin in 2000 and is headquartered in Tysons, VA.