Maxim analyst Jack Vander Aarde lowered the firm’s price target on Alarm.com to $70 from $75 but keeps a Buy rating on the shares. The company’s Q4 results marked a "solid beat" and Alarm.com looks well-positioned for 2023 SaaS growth, though the firm’s reduced price target reflects lower industry multiples, the analyst tells investors in a research note.
Published first on TheFly
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