iRobot (IRBT) Introduces iRobot OS Home Operating System

iRobot Corporation IRBT recently announced the launch of iRobot OS, an intelligent operating system built on its Genius Home Intelligence platform. Designed for IRBT’s robot vacuum cleaners, the iRobot OS solution provides an efficient cleaning experience for the customer at home.

Shares of iRobot lost 1.29% yesterday (Tuesday May 31), ending the trading session at $47.59.

Inside the Headlines

The iRobot OS powers Roomba j7 and j7+ robot vacuums, equipped with pet-friendly features, such as pet lock and Keep Out Zones. The operating system can also recommend additional cleaning schedules amid a pet-shedding season. Its intelligent object-detection feature enables it to avoid several objects, including cords, shoes, headphones, socks, towels, solid pet waste and clothing items.

The operating system can recognize and avoid more than 80 common household items as of now and is expected to enable cleaners to detect and avoid more objects going forward.

The iRobot OS supports approximately 600 different Alexa, Siri commands and Google Assistant. The robot can clean a specific room or a specific area of the room using voice.

Zacks Rank, Price Performance and Earnings Estimate Trend

iRobot with a $1.3-billion market capitalization, currently carries a Zacks Rank #3 (Hold). IRBT stands to benefit from solid product offerings, innovation capabilities and operational initiatives in the quarters ahead. Its investments in software related to machine-vision technologies, artificial intelligence and home understanding will likely be beneficial.

Image Source: Zacks Investment Research

Shares of IRBT have lost 24.6% compared with the 20.9% decline of its industry in the past three months.

The Zacks Consensus Estimate for 2022 earnings has decreased 60.8% to 71 cents in the past 60 days. Earnings estimates for 2023 have moved 33% south to $2.06 during the same period.

Zacks Rank & Stocks to Consider

Some better-ranked companies from the industrial products sector are discussed below:

Applied Industrial Technologies, Inc. AIT presently sports a Zacks Rank #1. AIT delivered a trailing four-quarter earnings surprise of 25.4%, on average. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

AIT’s earnings estimates have increased 5.9% for fiscal 2022 (ending June 2022) in the past 60 days. Its shares have inched up 1.6% in the past three months.

Roper Technologies, Inc. ROP presently has a Zacks Rank #2 (Buy). Its earnings surprise in the last four quarters was 2%, on average.

In the past 60 days, ROP’s earnings estimates have increased 1.2% for 2022. The stock has declined 1.5% in the past three months.

IDEX Corporation IEX is presently Zacks #2 Ranked. IEX’s earnings surprise in the last four quarters was 2.8%, on average.

In the past 60 days, the stock’s earnings estimates have increased 1.9% for 2022. IEX has dipped 0.8% in the past three months.

 

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.