Alarm.com price target raised to $67 from $61 at Roth MKM

Roth MKM raised the firm’s price target on Alarm.com to $67 from $61 and keeps a Buy rating on the shares. The firm’s mid-quarter survey suggests upside of 170 basis points to its core SaaS growth estimate of 5.6% while minor data on Commercial also appears to still be growing in the 20% range, with a view this trend could continue, the analyst tells investors in a research note. Roth MKM adds that its higher price target reflects more confidence that the company’s SaaS growth can continue to track in the low teens.