Arlo Technologies price target raised to $17 from $15 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Arlo Technologies (ARLO) to $17 from $15 and keeps a Buy rating on the shares post the Q4 report. The firm sees the shares re-rating, saying Arlo is now running at over 50% subscription revenues and and 80%-plus service gross margins. The company is seeing a customer shift to higher-tier subscription plans, driving average revenue per user north of $17, the analyst tells investors in a research note.