Needham analyst Richard Valera downgraded Control4 to Hold after its Q4 results showed a second consecutive quarter of top-line miss while its initial FY1 outlook came in modestly below consensus. The analyst sees the post-results decline of 16% giving the stock an inexpensive valuation of 14-times forward earnings, but believes that Control4 could remain challenged to re-accelerate because of the ongoing macro challenges. Valera also lowers his FY19 EPS outlook to $1.19 from $1.56, but points out the management's efforts to right size operations with "greater support to dealers, deciding to go direct in several international markets, pushing on its Certified Dealer showroom program and working closely with production builders".