Alarm.Com Shows Strong SaaS Growth Potential, Analyst Sees 12% Upside
Portfolio Pulse from Nabaparna Bhattacharya
Roth MKM analyst Darren Aftahi reiterated a Buy rating on Alarm.Com Holdings, Inc. (NASDAQ:ALRM), raising the price target to $67 from $61. The analyst conducted a Mid-Q survey, suggesting a 170 bps upside to the core SaaS growth estimate of 5.6%, implying ~12.3% y/y growth. ALRM has reported 1H23 SaaS growth of 13.4% and 14.1%, respectively. The analyst expects FY23 revenues of $876.5 million, with EPS of $1.70, and FY24 revenues of $929.4 million, with EPS of $1.76.
September 19, 2023 | 5:40 pm
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Roth MKM analyst Darren Aftahi has reiterated a Buy rating on Alarm.Com Holdings, Inc. (NASDAQ:ALRM), raising the price target to $67 from $61. The analyst's Mid-Q survey suggests a 170 bps upside to the core SaaS growth estimate of 5.6%, implying ~12.3% y/y growth.
The analyst's positive outlook on ALRM's SaaS growth potential, along with the raised price target, suggests a bullish sentiment towards the company. This could potentially lead to an increase in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100