Piper Sandler analyst Troy Jensen says that based on his original Q4 channel checks, he believed demand for iRobot's vacuums was solid this holiday season, but not quite as strong as in prior years. However, the recent pricing cuts have made the analyst "incrementally more concerned." It is not normal for iRobot to offer discounts this time of year, which leads to concern that the company lowered pricing to flush out channel inventory and boost demand, Jensen tells investors in a research note. While he believes iRobot's Q4 results will be relatively inline with consensus, he thinks 2020 consensus estimates are too high and that its 2020 guidance could come in below consensus. Jensen keeps a Neutral rating on iRobot with a $51 price target, saying the shares are fairly valued and will likely remain range bound until trade tariffs get resolved.