iRobot (IRBT) PT, Estimates Trimmed at Needham & Company

Needham & Company trimmed its price target on iRobot Corporation (NASDAQ: IRBT) to $41.00 (from $43.00) into Q3 results and guidance but maintained a Buy rating.

Analyst James Ricchiuti said, "Growing macro concerns, including slower U.S. retail sales in September and the ongoing economic malaise in Europe, have prompted us to temper our Q4 and 2015 estimates for IRBT. IRBT reports Q3 results after the market close on 10/21. We believe Q3 guidance, which assumes low-teens growth in the home robot business, is reasonable. We still expect strong growth in the home robot business in Q4 and believe the company is capable of mid-teens revenue growth overall in 2015, with adjusted EBITDA margins approaching the mid-teens in 2H of next year."

The firm maintained Q3 EPS at $0.32 but trimmed Q4 EPS from $0.38 to $0.33 and FY 2014 EPS from $1.16 to $1.10. Also, FY 2015 EPS goes from $1.42 to $1.35.

For an analyst ratings summary and ratings history on iRobot Corporation click here. For more ratings news on iRobot Corporation click here.

Shares of iRobot Corporation closed at $31.85 yesterday.

You May Also Be Interested In

• Sage Therapeutics (SAGE) PT Lowered to $18 at Truist Securities
• JPMorgan Upgrades Unilever Indonesia Tbk (UNVR:IJ) (UNLRF) to Neutral
• Radiant Opto-Electronics Corp (6176:TT) PT Raised to NT$162.50 at Nomura/Instinet