Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Munster: iRobot ‘Sweeps Away Competitive Threats’

Courtesy of Benzinga.

Munster: iRobot 'Sweeps Away Competitive Threats'

Wall Street analyst turned venture capitalist Gene Munster is closely following iRobot Corporation (NASDAQ: IRBT) which marks a notable shift away from the two mega-cap giants he follows, Apple Inc. (NASDAQ: AAPL) and Tesla Inc (NASDAQ: TSLA).

Despite a comparatively small $2 billion market cap, iRobot is an “important company to follow” because it’s a true pioneer in the home robotics space, the co-founder of Loup Ventures told Benzinga during a visit to the Detroit newsroom this week.

iRobot is projected to sell around 3.5 million cleaning robots this year, which would bring its total penetration so 5 percent of households, Munster said. iRobot has a large opportunity to grow inside the house as well as outside, as management has been hinting toward releasing a robotic lawn mower.

“The driving catalyst to increase robot adoption is increasing consumer awareness, and as consumers become more comfortable with robotic vacuums, this will cause increase demand for other domestic robot categories (mops and lawnmowers),” Munster said in a blog post.

The domestic robot category will likely see double-digit unit growth annually over the next 10 years. By the year 2025, there will likely be 26.5 million domestic robots — a $5.7 billion market opportunity, according to Loup Ventures. 

iRobot is well-positioned to dominate in the vacuum and wet floor cleaning category, but its leading robotics expertise will “unlock many opportunities in other domestic markets,” Munster said. 

iRobot Corporation was trading down 9.33 percent midday Wednesday.

Related Links:

8 Technical Levels From Wednesday’s PreMarket Prep

31 Stocks Moving In Wednesday’s Pre-Market Session

Photo courtesy of iRobot Corp. 

Latest Ratings for IRBT

Date Firm Action From To
Jul 2017 Downgrades Buy Neutral
May 2017 Canaccord Genuity Downgrades Buy Hold
Nov 2016 Dougherty Initiates Coverage On Buy

View More Analyst Ratings for IRBT


View the Latest Analyst Ratings

Posted-In: Cleaning Robots Gene Munster Loup Ventures robotsAnalyst Color Analyst Ratings Tech Best of Benzinga


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!