Imperial Capital Raises Price Target on Control4 (CTRL) Following 3Q Report
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Imperial Capital reiterated an In-Line rating on Control4 Corporation (NASDAQ: CTRL), and raised the price target to $12.00 (from $11.00), following the company's 3Q earnings report. Revenue was reported at $55.2mn, ahead of $53.7mn estimates. Diluted EPS of $0.26 also beat estimates of $0.22.
Analyst Jeff Kessler commented, "On 11/3/16, Control4 reported 3Q16 results with revenue of $55.2mn, up 27% year-over-year (yoy) from $43.6mn, and above our estimate of $53.7mn. Diluted EPS of $0.26 was up from $0.14 during the same period last year, and above our estimate of $0.22. Management improved non-GAAP gross margin to 52.5%, up sequentially from 52.4%, and above our estimate of 52.2%. This is the third quarter in a row that company earnings have exceeded our estimates."
Shares of Control4 Corporation closed at $11.35 yesterday.
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