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iRobot has recently unveiled a new CEO who it hopes can help navigate its turnaround. The company's financials aren't in great shape, with sales falling and iRobot anticipating a sizable loss in 2024.
There are some key robotics stocks for investors to buy in May, amid the broader indices like the Nasdaq surging upwards. Some analysts expect the rally for tech stocks in general will continue.
The recent surge in analyst coverage for stocks such as Mission Produce (AVO), iRobot (IRBT) and Old Republic (ORI) indicates the potential for significant price appreciation in the near term.
Robotics and automation go hand in hand. Inflationary pressures have been plaguing both consumers and business owners.
Amazon had agreed to buy iRobot, but the deal was scuttled because of competitive concerns. As it was announced that the proposal had fallen apart, iRobot said it would pursue a major business overhaul.
iRobot (IRBT) first-quarter 2024 revenues decline 6.4% on account of lower sales of solo and other products.
iRobot's sales volumes grew in Q1 with help from price cuts. Its net losses are projected to continue into 2025.
iRobot Corporation (NASDAQ:IRBT ) Q1 2024 Earnings Conference Call May 8, 2024 8:30 AM ET Company Participants Karian Wong - Chief Accounting Officer Glen Weinstein - Interim CEO Julie Zeiler - EVP & CFO Conference Call Participants Asiya Merchant - Citigroup Operator Welcome to the iRobot First Quarter 2024 Earnings Conference Call. [Operator Instructions].
iRobot appointed Gary Cohen as chief executive officer on Tuesday to head the robot vacuum maker's turnaround efforts.
IRobot swung to a profit in the first quarter and trimmed its outlook for full-year losses after the company completed most of its planned cost cuts.