Alarm.com Holdings shares in the red after Imperial downgrade

Alarm.com Holdings

04/03/2019 18:59

** Shares of Alarm.com Holdings Inc  ALRM.O  slide 6.5 pct at
$55.43 on Mon after Imperial Capital downgrades stock to
"in-line" from "outperform"
    ** ALRM has fallen more than 15 pct since Thurs; on track
for biggest two-day pct decline since June
    ** Despite raising PT to $61 from $58, Imperial says "we
would wait for a lower entry point" in ALRM given stock's run-up
since late June
    ** ALRM has fallen since reporting Q4 2018 results and
giving Q1 guidance after the bell on Thurs. Even so, stock up
more than 48 pct from June closing low of $37.29
    ** Jefferies on Fri noted that ALRM 2019 subscription rev
guidance came in below expectations. In Mon note, Imperial
described Q1 guidance as "conservative," saying that forecast
did not factor in subscription and license revenue from new
ventures such as business with homebuilders including D.R.
Horton Inc  DHI.N  and Toll Brothers Inc  TOL.N 
    ** YTD ALRM up 6.9 pct, underperforming S&P 600 Information
Technology index  .SPSMCT , up 18.9 pct 

 ((April.Joyner@thomsonreuters.com; +1 646 223 7480; Reuters
Messaging: april.joyner.thomsonreuters.com@reuters.net; Twitter:
@aprjoy))