FY2024 EPS Estimates for Symbotic Inc. (NASDAQ:SYM) Decreased by Analyst

Symbotic Inc. (NASDAQ:SYMGet Rating) – Investment analysts at Northland Capmk lowered their FY2024 earnings estimates for Symbotic in a research note issued on Monday, November 21st. Northland Capmk analyst M. Latimore now forecasts that the company will post earnings per share of $0.23 for the year, down from their prior estimate of $0.28. The consensus estimate for Symbotic’s current full-year earnings is ($0.01) per share.

Symbotic (NASDAQ:SYMGet Rating) last issued its earnings results on Monday, November 21st. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Symbotic had a negative net margin of 10.08% and a negative return on equity of 558.47%.

A number of other research analysts have also recently weighed in on SYM. The Goldman Sachs Group dropped their price objective on shares of Symbotic from $13.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday. Needham & Company LLC dropped their price objective on shares of Symbotic from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday. UBS Group started coverage on shares of Symbotic in a research note on Monday, September 19th. They set a “buy” rating and a $17.00 price objective for the company. Raymond James raised their price objective on shares of Symbotic from $18.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 2nd. Finally, Citigroup dropped their price objective on shares of Symbotic from $21.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.27.

Symbotic Stock Performance

Shares of Symbotic stock opened at $12.22 on Thursday. Symbotic has a 12-month low of $8.75 and a 12-month high of $28.48. The stock has a market capitalization of $676.01 million, a PE ratio of -1.15 and a beta of 1.24. The firm has a 50-day moving average of $11.65.

Institutional Trading of Symbotic

Several hedge funds and other institutional investors have recently bought and sold shares of SYM. Navis Wealth Advisors LLC purchased a new stake in Symbotic in the 2nd quarter worth approximately $8,067,000. JPMorgan Chase & Co. acquired a new position in shares of Symbotic in the 2nd quarter valued at $534,000. SB Global Advisers Ltd acquired a new position in shares of Symbotic in the 2nd quarter valued at $219,400,000. Raymond James & Associates acquired a new position in shares of Symbotic in the 3rd quarter valued at $267,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in shares of Symbotic in the 3rd quarter valued at $791,000.

About Symbotic

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Symbotic Inc, an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. It offers The Symbotic System, a full-service warehouse automation system that reduces costs, improves efficiency, and maximizes inventory. The company is based in Wilmington, Massachusetts.

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Earnings History and Estimates for Symbotic (NASDAQ:SYM)

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