Why Arlo Technologies Stock Soared Today

Shares of Arlo Technologies (NYSE: ARLO) have soared today, up by 26% as of 12:20 p.m. EDT, after getting an upgrade from Wall Street. The stock had gained as much as 64% in morning trading.

Raymond James upgraded its rating on Arlo from market perform to outperform and assigned a price target of $6. Analyst Adam Tindle points out that the company's current market cap is close to its net cash (at least prior to today's jump). Recent channel checks may indicate that Arlo, which makes smart-home products, may be seeing a rebound in the business.

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Source Fool.com