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ALRM - Alarm.com: Set Your Alarm If The Price Drops
Alarm.com Holdings Inc.
It didn’t take long for Alarm.com to shrug off the news of Google’s Nest and ADT partnership.
The company is having a strong fiscal year and has recently raised its outlook for Q4 and its fiscal-year end.
From a valuation point of view, we believe the company is trading in overvalued territory.
At 45x earnings, growth expectations embedded in the stock price are high. A slowdown in the growth rate could put a serious dent in the market’s expectations, thus re-rating ALRM at a lower multiple of earnings.