iRobot Corporation (IRBT) Tops Q4 EPS by 9c
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Needham & Company Defends iRobot (IRBT)
February 12, 2016 7:56 AM ESTNeedham & Company analyst, James Ricchiuti, sees the selloff in shares of iRobot (NASDAQ: IRBT) as overdone as consensus seems to not have been modeling in the divestiture properly. His Buy rating and $38 price target are unchanged.
IRBT shares were punished after the company posted better Q4 results and guided for an acceleration in growth in the home robot business from 10% in 2015 to 12-13% in 2016. Mgmt guided to a modest decline in adj. EBITDA for 2016 as IRBT steps up investments in its wet-floor care products.
Revs were up 30% to $206.4M, above guidance of... More
