|Bid||57.65 x 1300|
|Ask||58.50 x 900|
|Day's Range||56.24 - 64.29|
|52 Week Range||32.00 - 74.66|
|Beta (5Y Monthly)||1.18|
|PE Ratio (TTM)||54.98|
|Earnings Date||Aug 05, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||62.75|
ADT leapt to a record high on Monday after Alphabet's Google said it would invest in and partner with the home-security provider.
(Bloomberg) -- Alarm.com Holdings Inc. plunged as much as 20%, the most intraday in almost five years, after Alphabet Inc.’s Google announced a partnership to create smart-home security products with ADT Inc.Stifel analyst Brad Reback said the pact is a “potential long-term issue” for Alarm.com, which offers interactive security and video monitoring for residential and commercial properties. In a February filing, Alarm.com said ADT represented “greater than 15% but not more than 20%” of its revenue in the three years ended 2019.“This ADT/Google partnership could become a headwind to ADT’s existing technology relationship (five-year deal) with Alarm.com that was formed in 2017,” Reback said.William Blair analyst Matthew Pfau said he doesn’t expect that the alliance will have a material impact on Alarm.com over the next year, as it’d be tough “for ADT to move its roughly 3 million subscribers on Alarm.com to another platform.” But Pfau said, at the least, the partnership could be used to put pressure on Alarm.com during contract renegotiations. As a result, Pfau downgraded his Alarm.com investment rating to market perform from outperform, also citing a lack of catalysts to lift Alarm.com’s stock.Shares of home-security company Resideo Technologies Inc. also slumped Monday, falling as much as 22% in the biggest intraday decline since March.ADT expects to offer some Google devices to its customers starting this year and to expand the integration in 2021, according to a statement. As part of the partnership, Google will invest $450 million to acquire a 6.6% stake in ADT.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
When close to half the companies in the United States have price-to-earnings ratios (or "P/E's") below 17x, you may...