despite the big gains last month, iRobot's share price is roughly flat year to date.
iRobot gave a presentation for investors at the Baird Global Consumer, Technology & Services Conference in which it outlined growth outlooks for its products and the broader cleaning-robot market. Piper Jaffray analyst Troy Jensen then published a research note on June 12 stating that retail-channel reports suggested that the robotics company's sales for the quarter would likely come in above estimates. The note also gave iRobot an overweight rating and issued a $78 price target on the stock.
So what
At the June investor conference, iRobot broke down figures estimating that it has roughly 85% market share in North America, 31% in the Asian-Pacific geographic segment, and 71% share in the Europe, Middle East, and Africa market. The company still sees big room for expansion for both its Roomba and Braava lines as Internet of Things and smart-home markets expand. And it expects to sell roughly 5 million connected-device units in 2018 -- up from less than 2 million in 2017. The conference also highlighted plans to introduce several new products in the second half of 2018.
And iRobot stock appears to have received a positive catalyst toward the end of the month by way of the legal system. The company announced on June 26 that it had received a favorable preliminary determination upholding claims of intellectual-property violations that it had filed against companies including Hoover, bObsweep, and iLife.
Investors sentiment increased to 1.12 in 2018 Q1. Its up 0.08, from 1.04 in 2017Q4. It is positive, as 30 investors sold iRobot Corporation shares while 60 reduced holdings. 38 funds opened positions while 63 raised stakes. 22.40 million shares or 5.35% less from 23.67 million shares in 2017Q4 were reported
iRobot (NASDAQ:IRBT) Receives a Downgrade
Shares of New York-listed iRobot (NASDAQ:IRBT) Have been downgraded by professional analysts at Raymond James. Raymond James lowered their rating for the $2.20B market cap company to a “Mkt Perform” from their previous “Outperform” rating.
iRobot Corporation (NASDAQ:IRBT) Ratings Coverage
Among 7 analysts covering iRobot (NASDAQ:IRBT), 3 have Buy rating, 0 Sell and 4 Hold. Therefore 43% are positive. iRobot has $98.0 highest and $62 lowest target. $75.25’s average target is -4.75% below currents $79 stock price. iRobot had 11 analyst reports since January 30, 2018 according to SRatingsIntel. The firm has “Buy” rating given on Tuesday, June 12 by Piper Jaffray. The stock of iRobot Corporation (NASDAQ:IRBT) earned “Hold” rating by Canaccord Genuity on Wednesday, April 25. The stock of iRobot Corporation (NASDAQ:IRBT) has “Buy” rating given on Friday, February 9 by Raymond James. The rating was downgraded by Raymond James on Tuesday, July 10 to “Market Perform”. JP Morgan upgraded the shares of IRBT in report on Friday, February 9 to “Neutral” rating. The rating was upgraded by Sidoti to “Buy” on Friday, February 9. The firm has “Hold” rating given on Friday, February 9 by J.P. Morgan. Sidoti downgraded the shares of IRBT in report on Tuesday, January 30 to “Hold” rating. JP Morgan maintained iRobot Corporation (NASDAQ:IRBT) rating on Thursday, April 26. JP Morgan has “Neutral” rating and $62 target. The firm has “Overweight” rating by PiperJaffray given on Thursday, April 19.
The stock decreased 2.36% or $1.91 during the last trading session, reaching $79. About 619,358 shares traded. iRobot Corporation (NASDAQ:IRBT) has declined 33.81% since July 10, 2017 and is downtrending. It has underperformed by 46.38% the S&P500.
