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Home security and smart-home technology provider Alarm.com ( ALRM ) soared Friday to a record high after raising its guidance and reporting fourth-quarter earnings late Thursday that topped expectations. The company is a cloud-based provider of connected-home technology. Its software-as-a-service platform enables homeowners and businesses to control a broad array of connected devices through a single user interface. Alarm.com reported Q4 revenue of $56.9 million, up 25% year over year and topping the consensus estimate of $44.1 million, as polled by Thomson Reuters. It reported earnings per share minus items of 14 cents, smashing estimates of just a penny profit. During the quarter, Alarm.com introduced an app for Apple ( AAPL ) TV. The app lets users watch live feeds from video cameras around their property in real time, using the Apple TV operating system and remote control. The company also announced voice control for lighting and smart thermostats that can be managed through the Amazon ( AMZN ) Echo device. With Amazon Echo and the Amazon cloud-based voice service Alexa, spoken commands — such as “turn on the living room lights” — trigger connected devices in the home. Alarm.com stock was up 13%, near 20, in late-afternoon trading in the stock market today . It peaked earlier in the session at 22.67. Alarm.com raised $98 million with its June 25 initial public offering , pricing 7 million shares at 14, the midpoint of its range. For 2016, Alarm.com expects revenue of $236 million to $239.5 million, well above the consensus of $232 million. Credit Suisse analyst Michael Nemeroff raised his price target on Alarm.com stock to 25 from 22, and maintained a buy rating. Alarm.com said that it expanded its base of dealers to 6,100, up from about 5,100 one year ago. It ended the year with 2.6 million subscribers, up 200,000 from eight months earlier. Scalper1 News
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