Alarm.com price target lowered to $56 from $63 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Alarm.com (ALRM) to $56 from $63 and keeps a Neutral rating on the shares. Alarm.com delivered a strong Q3, exceeding expectations on both revenue and profitability, with broad-based strength across SaaS and hardware and a full-year guidance raise, the analyst tells investors in a research note. While the company’s scale, margin outlook, and cash generation are improving, clearer evidence of sustained SaaS growth and better visibility into hardware demand amid macro uncertainty are needed before turning more constructive on the stock, Goldman says.