ALRM - Alarm.Com Shows Strong SaaS Growth Potential Analyst Sees 12% Upside | Benzinga
Roth MKM analyst Darren Aftahi reiterated a Buy rating on Alarm.Com Holdings, Inc. (NASDAQ: ALRM), raising the price target to $67 from $61.
Aftahi conducted a Mid-Q survey, and the results suggest a 170 bps upside to the analyst's core SaaS growth estimate of 5.6%, which implies ~12.3% y/y growth (excluding Vivint revenue from last year).
ALRM has reported "core" and overall 1H23 SaaS growth of 13.4% and 14.1%, respectively, the analyst notes.
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