IRobot (IRBT) Partners IFTTT For Smart Home Integrations
Zacks Investment Research | Jan 07, 2020 08:48PM ET
iRobot Corporation (NASDAQ:IRBT) recently announced that it has entered into a collaboration with the major integration and discovery platform — IFTTT.
Notably, iRobot and IFTTT will work on integrating various smart devices and services within the iRobot HOME App. The collaboration will involve iRobot to leverage IFTTT’s Connect product and create in-app integrations. This will enable the company to enhance customer experience by facilitating easy integration of its devices with other products.
One of the enhanced smart home experiences that iRobot is likely to offer to its customers is the ability to assign its Roomba and Braava products in cleaning rooms with the help of voice assistant integrations. As noted by the company, customers can also schedule the timing for cleaning purposes per their choice. We believe such partnerships are likely to create new opportunities for the company’s automation field and boost its connected product base.
Although iRobot’s diversified product portfolio and innovative capabilities have been benefiting it over time, the global industrial robotics market is facing headwinds from the imposition of trade tariffs for robotic vacuums. Higher tariffs on China imports might put additional cost pressure on iRobot, and in turn weigh on revenues and margins. For 2019, the company expects to incur $35-$40 million of tariff-related costs.
Analysts have become increasingly bearish about the company over the past seven days. The Zacks Consensus Estimate has been revised downward by 7.8% to $1.19 for 2020 on account of one downward estimate revision versus none upward. This makes us cautious about the stock.
Over the past year, the Zacks Rank #4 (Sell) company has lost 45.2% against the Original post
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