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Why iRobot Stock Fell Today

TheMotleyFool

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Shares of iRobot (NASDAQ: IRBT) fell as much as 11% early Wednesday before recovering to trade down 5.8% as of 1:30 p.m. EDT after a notable analyst downgrade.

Raymond James' Brian Gesuale lowered his rating on iRobot stock to underperform from market perform. To justify his relative bearishness, Gesuale argues that Wall Street's consensus estimates aren't accounting for potential market-share losses in the coming quarters as competition increases in the robotic vacuum cleaner (RVC) market. In particular, he's concerned about competitively priced RVCs from recent market entrant Shark, which could hurt iRobot's brand and pricing power from the upcoming holiday season and into 2020.

Image source: iRobot.

Source Fool.com

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