Alarm.com price target raised to $70 from $67 at Roth MKM

Roth MKM raised the firm’s price target on Alarm.com to $70 from $67 and keeps a Buy rating on the shares. The analyst cites the company having resolved its litigation with Vivint and entering into a new licensing agreement with the company. The firm adds that it expects Alarm.com to update its FY24 guidance, stating the company is likely to see the benefit of potentially $24M in incremental SaaS licensing revenue at high flow-through rates to profitability.