Symbotic Inc. (NASDAQ:SYM) Expected to Earn FY2023 Earnings of ($0.02) Per Share

Symbotic Inc. (NASDAQ:SYM – Get Rating) – Cantor Fitzgerald reduced their FY2023 earnings per share (EPS) estimates for Symbotic in a note issued to investors on Tuesday, August 2nd. Cantor Fitzgerald analyst D. Soderberg now expects that the company will post earnings of ($0.02) per share for the year, down from their prior forecast of $0.01. Cantor Fitzgerald has a “Overweight” rating and a $24.00 price objective on the stock. The consensus estimate for Symbotic’s current full-year earnings is ($0.22) per share.

A number of other research firms have also weighed in on SYM. William Blair started coverage on Symbotic in a research report on Friday, July 15th. They set an “outperform” rating on the stock. Needham & Company LLC boosted their target price on shares of Symbotic from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday. Citigroup boosted their target price on shares of Symbotic from $15.00 to $21.00 in a research note on Wednesday. Cowen started coverage on shares of Symbotic in a research note on Tuesday, June 21st. They set an “outperform” rating and a $18.00 target price for the company. Finally, The Goldman Sachs Group started coverage on shares of Symbotic in a research note on Monday, July 25th. They set a “neutral” rating and a $19.00 target price for the company. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.60.

Symbotic Stock Performance

Symbotic stock opened at $16.22 on Thursday. Symbotic has a twelve month low of $9.01 and a twelve month high of $28.48. The stock’s fifty day moving average is $16.08.

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.