Alarm.com Holdings, Inc. (NASDAQ:ALRM) recently introduced a new access solution — Smarter Access Control — for businesses. The new access solution is part of the unified Alarm.com for Business platform.
This system will provide varied solutions to solve common access control problems, along with increasing visibility and awareness.
The latest solution will allow customers to handle all kinds of functions without any hassles. They can operate simple as well as complex functions like managing employee access plans and schedules in the most convenient way.
The hardware used in the solution comes from Mercury Security, which allows Alarm.com’s service provider partners to cater to the needs of varied markets and customers.This will increase the customer base and drive the top line.
Mercury Security is a global leader in OEM access control technology.
Coming to price performance, shares of Alarm.com have returned 24.8% over a year, outperforming the industry’s decline of 29.2%.
What is Alarm.com for Business Platform?
Alarm.com for Business is a unique platform that combines intelligent intrusion detection, video surveillance, access control and energy management into a single solution. The solution is easily controlled by Alarm.com and online interfaces.
Additionally, the solution integrates the cloud services and connected devices such as PoE dome, bullet and turret cameras into a single solution that helps to centralize security related work into a single and mobile-friendly interface.
These enhanced features are likely to help the app find greater adoption among customers.
Expanding Product Portfolio — Key Catalyst
Alarm.com’s strong focus on innovation is helping its product portfolio to expand, which in turn is improving its customer base and service provider network.
Just last week, the company introduced a new security solution for small-to-medium sized businesses (SMB). The system provides proactive security and automates everyday work, along with increasing visibility and awareness.
In January 2018, the company launched a new smart thermostat that provides protection from home emergencies like HVAC failures, floods, water damage and mold. The product helped the company to expand its business into home security market.
In the last quarter, the company strengthened its portfolio of video cameras by increasing commercial customer base.
Hence, we believe that the new and innovative products will continue to expand the company’s portfolio and generate strong revenues in the near future.
Zacks Rank & Other Stocks to Consider
Alarm.com sports a Zacks Rank #1 (Strong Buy).Other top-ranked stocks in the technology sector are Stamps.com Inc. (NASDAQ:STMP) , PetMed Express (NASDAQ:PETS) and Agilent Technologies (NYSE:A) . While Stamps.com flaunts a Zacks Rank #1, PetMed and Agilent carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings per share growth rate for Stamps.com, PetMed and Agilent is projected to be 15%, 10% and 10.8%, respectively.
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