BWS does not see Roku making ‘much of a dent’ in Arlo security camera share

BWS Financial analyst Hamed Khorsand notes that Arlo Technologies (ARLO) has a new competitor poised to take share in an already crowded space as Roku (ROKU) yesterday introduced a lineup of security cameras, its first release without a partner given that Roku had previously worked with Wyze as a partner for their smart home products. However, since Arlo is already selling hardware below cost, the firm does not expect Roku to “make much of a dent into the market,” say the firm, which adds that Arlo had momentum in the first quarter with checks suggesting consumer activity was better than the seasonal softness that usually comes after the holidays. BWS has a Buy rating and $24 price target on Arlo shares.