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Irobot Corp Down 10.14% To $10.99 After Earnings Beat

Tuesday, February 27, 2024 10:38 AM | InvestorsObserver Analysts

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Irobot Corp Down 10.14% To $10.99 After Earnings Beat

Irobot Corp (IRBT) said after close Monday that it lost $1.82 per share in quarter four 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $307.5 million, missing estimates by $446 thousand.

In the same quarter a year ago, the company lost $1.52 per share on revenue of $357.9 million.

The stock is down 10.14% to $10.99 after the report.

Despite Irobot Corp reporting a decline in revenues, earnings increased signaling a rise in profit margins.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Irobot Corp has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 1, putting Irobot Corp in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $11.52 on February 23, 2024 and set a 52-week high on July 19, 2023 at $51.49.

iRobot Corp is a united state based consumer robot company. It designs and builds robots that assist consumers with the solutions for the activities to be carried both inside and outside of the home. The company's consumer robot comprises a portfolio of solutions which includes cleaning, mapping and navigation, human-robot interaction, and physical solutions. The company operates in the business segment of Consumer robots. The consumer robot products are provided to the consumers by retail businesses and online store. The company derives its revenue from the product sales. It sells the products across the United States and around the world.

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