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Here's Why it is Worth Investing in iRobot (IRBT) Stock Now
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iRobot Corporation (IRBT - Free Report) currently boasts of strong prospects, supported by its diversified product portfolio, healthy demand for its products, focus on innovation and surge in business through the online platforms.
Notably, the Zacks Rank #1 (Strong Buy) company has a market capitalization of $3.2 billion. In the past three months, it has gained 47.1% compared with the industry’s growth of 6.5%.
Let’s delve into the factors that make investment in the company a smart choice at the moment.
Strong Product Offerings: iRobot has been benefiting from its diversified product portfolio over time. In fourth-quarter 2020, revenues derived from premium robots (products having $500 or more as list price) increased 55% on a year-over-year basis. Also, its innovation capabilities have been proving advantageous. For instance, the company is witnessing healthy response to the Roomba i3 and i3+ as well as the Genius Home Intelligence platform (all launched in the third quarter of 2020). It’s worth mentioning that it also launched Roomba Combo in some European countries in the fourth quarter.
Initiatives: The company’s focus on expanding its recurring revenue sources, direct-to-consumer sales channel and business from the online platform bode well. Notably, the company’s revenues generated from the online platform — including Home App, online source of retailers, e-commerce sites and its website — were roughly 60% of its fourth-quarter revenues.
Also, the company’s investments in building brand awareness via campaigning through traditional retail partners in their own app and website, as well as through online retailers, will likely play a significant role in boosting demand for products, going forward.
Estimate Trend: In the past 30 days, analysts have increasingly become bullish on the company, as evident from positive earnings estimate revisions. Notably, the Zacks Consensus Estimate for its 2021 earnings has trended up from $2.38 to $3.14 on four upward estimate revisions against one downward revision. In addition, over the same timeframe, the consensus estimate for 2022 earnings has trended up from $3.61 to $5.34 on three upward estimate revisions against no downward revision.
ABB delivered a positive earnings surprise of 54.17%, on average, in the trailing four quarters.
AGCO delivered a positive earnings surprise of 454.97%, on average, in the trailing four quarters.
Astec Industries delivered a positive earnings surprise of 172.72%, on average, in the trailing four quarters.
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Here's Why it is Worth Investing in iRobot (IRBT) Stock Now
iRobot Corporation (IRBT - Free Report) currently boasts of strong prospects, supported by its diversified product portfolio, healthy demand for its products, focus on innovation and surge in business through the online platforms.
Notably, the Zacks Rank #1 (Strong Buy) company has a market capitalization of $3.2 billion. In the past three months, it has gained 47.1% compared with the industry’s growth of 6.5%.
Let’s delve into the factors that make investment in the company a smart choice at the moment.
Strong Product Offerings: iRobot has been benefiting from its diversified product portfolio over time. In fourth-quarter 2020, revenues derived from premium robots (products having $500 or more as list price) increased 55% on a year-over-year basis. Also, its innovation capabilities have been proving advantageous. For instance, the company is witnessing healthy response to the Roomba i3 and i3+ as well as the Genius Home Intelligence platform (all launched in the third quarter of 2020). It’s worth mentioning that it also launched Roomba Combo in some European countries in the fourth quarter.
Initiatives: The company’s focus on expanding its recurring revenue sources, direct-to-consumer sales channel and business from the online platform bode well. Notably, the company’s revenues generated from the online platform — including Home App, online source of retailers, e-commerce sites and its website — were roughly 60% of its fourth-quarter revenues.
Also, the company’s investments in building brand awareness via campaigning through traditional retail partners in their own app and website, as well as through online retailers, will likely play a significant role in boosting demand for products, going forward.
Estimate Trend: In the past 30 days, analysts have increasingly become bullish on the company, as evident from positive earnings estimate revisions. Notably, the Zacks Consensus Estimate for its 2021 earnings has trended up from $2.38 to $3.14 on four upward estimate revisions against one downward revision. In addition, over the same timeframe, the consensus estimate for 2022 earnings has trended up from $3.61 to $5.34 on three upward estimate revisions against no downward revision.
Other Stocks to Consider
Some other top-ranked stocks from the Zacks Industrial Products sector are ABB Ltd , AGCO Corporation (AGCO - Free Report) and Astec Industries, Inc. (ASTE - Free Report) . All the companies currently carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ABB delivered a positive earnings surprise of 54.17%, on average, in the trailing four quarters.
AGCO delivered a positive earnings surprise of 454.97%, on average, in the trailing four quarters.
Astec Industries delivered a positive earnings surprise of 172.72%, on average, in the trailing four quarters.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
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