Maxim Group analyst Nehal Chokshi maintained a Buy rating on Control4 Corp (CTRL) today and set a price target of $31. The company’s shares closed yesterday at $21.23.
Chokshi said:
“Wallet share expansion continues, despite Dec Q results at low-end of guidance. Our assumption of seasonal performance off of below-consensus Mar Q guidance leads to our below-guidance 2019 revenue estimate… …but still a re-accelerating growth profile to 10% y/y by 4Q19 given secular growth, year-ago dealer add dynamics & likely increasing loyalty from dealers. Despite the weaker-than-anticipated 2019 outlook, we remain confident CTRL is well-positioned for sustained organic growth of 10% for multiple years but, we reduce our PT to $31, from $36 and maintain Buy rating.”
According to TipRanks.com, Chokshi is a 5-star analyst with an average return of 13.0% and a 62.6% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Palo Alto Networks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Control4 Corp with a $31.60 average price target.
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Based on Control4 Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $5.71 million. In comparison, last year the company had a net profit of $6.06 million.
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Control4 Corp. engages in the provision of automation and control solutions. It offers networking systems to control lighting, entertainment, security, energy and other connected devices. The firm builds secure infrastructure to provide cloud-base services which includes remote customer system access.
