Alarm.com (NASDAQ:ALRM) Given New $78.00 Price Target at Barclays

Alarm.com is a software company that provides home security and automation services to customers in North America. The company's stock is listed on the NASDAQ Global Select Market under the ticker symbol ALRM.

On Friday morning, Barclays released a report on Alarm.com, upping its price target from $66.00 to $78.00. This means that the brokerage firm now believes that the stock is undervalued and has the potential for further growth. The report also included an equal weight rating on the software maker's stock, indicating that the brokerage firm sees the company as having roughly equal potential for growth compared to other stocks in its industry.

It's worth noting that this is just one of several reports on Alarm.com that have been released by research firms in recent days. JPMorgan Chase & Co., another major financial institution, also issued a report on the company, although the details of that report are not publicly available. Other research firms may have also weighed in on the stock, but this information is not provided in the given context.

Overall, the upped price target from Barclays suggests that the brokerage firm believes that Alarm.com has strong growth potential and is worth investing in. However, it's important to keep in mind that stock prices can be volatile and unpredictable, and past performance is not a guarantee of future results. As with any investment, it's important to do your own research and consider seeking advice from a financial advisor before making any decisions.