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iRobot (NASDAQ:IRBT)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued on Wednesday. They currently have a $40.00 price objective on the stock. Zacks‘s price target points to a potential upside of 4.03% from the stock’s previous close.

Zacks’ analyst wrote, “iRobot reported mixed results for the first quarter of 2014. Earnings declined 38% year over year to $0.18 per share, despite a 7.5% increase in revenues to $114 million. The top-line growth was driven by 16.5% revenue growth in the Home Robots segment. The company anticipates that the product launches expected in 2014, along with recently launched products will enable the company to generate significantly higher market share in the coming quarters. However, the company’s dependence on the U.S. federal government raises our concern. The company is also exposed to foreign currency fluctuations which can negatively affect the results. Based on these factors, we initiate our coverage on iRobot with a Neutral recommendation.”

iRobot (NASDAQ:IRBT) traded up 2.42% during mid-day trading on Wednesday, hitting $39.39. 179,421 shares of the company’s stock traded hands. iRobot has a 52-week low of $28.90 and a 52-week high of $48.36. The stock’s 50-day moving average is $34.88 and its 200-day moving average is $37.43. The company has a market cap of $1.161 billion and a P/E ratio of 46.22.

iRobot (NASDAQ:IRBT) last released its earnings data on Tuesday, April 22nd. The company reported $0.18 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.16 by $0.02. The company had revenue of $114.20 million for the quarter, compared to the consensus estimate of $112.26 million. During the same quarter last year, the company posted $0.21 earnings per share. iRobot’s revenue was up 7.5% compared to the same quarter last year. On average, analysts predict that iRobot will post $1.11 earnings per share for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Spruce Point Management initiated coverage on shares of iRobot in a research note on Tuesday, May 20th. They set a “strong sell” rating on the stock. Separately, analysts at JPMorgan Chase & Co. upgraded shares of iRobot from an “underweight” rating to a “neutral” rating in a research note on Tuesday, April 29th. They now have a $33.00 price target on the stock. Finally, analysts at Susquehanna raised their price target on shares of iRobot from $40.00 to $44.00 in a research note on Monday, April 21st. They now have a “positive” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $41.43.

iRobot Corporation develops and manufactures robotic solutions to real-world problems. The Company provides robotic technology and supplies developers with an industry standard platform to create robotic applications.

To view Zacks’ full report, visit Zacks’ official website.

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