Roth Capital Cuts Price Target on ZAGG, Inc. (ZAGG) Following 2Q EPS Beat

Roth Capital maintained a Neutral rating on ZAGG Incorporated (NASDAQ: ZAGG), and cut the price target to $8.00 (from $9.00), Following 2Q15 results. ZAGG reported EPS of $0.12 exceeding consensus of $0.08. Revenue increased 33% YOY to $66.7M, above consensus of $57.8M.

Analyst Dave King commented, "2Q15 results surpassed expectations as we expected and management raised full year EBITDA guidance while maintaining its revenue target. The company benefited from strong sales of high-margin screen protectors, helped by continued traction following the launch of iPhone 6 as well as increased placements at key retailers. Keyboard sales declined, but management noted positive POS market share trends. Our Neutral reflects longer-term concerns about ZAGG’s device launch dependence and the ultimate viability of certain product categories."

For an analyst ratings summary and ratings history on ZAGG Incorporated click here. For more ratings news on ZAGG Incorporated click here.

Shares of ZAGG Incorporated closed at $7.50 yesterday.

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