Craig-Hallum raised the firm’s price target on Arlo Technologies (ARLO) to $22 from $17 and keeps a Buy rating on the shares. The firm believes a re-rating of Arlo is due as the company is now running at over 60% subscription revenues, $316M in ARR, and 85% service gross margins. The company now expects FY25 service revenue of $310M-plus, up over 27% year-over-year, and for Service gross margins to remain at 85%-plus.
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