Northland Capmk Equities Analysts Lower Earnings Estimates for Symbotic Inc. (NASDAQ:SYM)

Symbotic Inc. (NASDAQ:SYMGet Rating) – Equities research analysts at Northland Capmk cut their FY2024 earnings per share (EPS) estimates for shares of Symbotic in a report released on Monday, November 21st. Northland Capmk analyst M. Latimore now expects that the company will post earnings of $0.23 per share for the year, down from their previous forecast of $0.28. The consensus estimate for Symbotic’s current full-year earnings is ($0.01) per share.

Several other equities research analysts have also commented on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Symbotic from $19.00 to $20.00 in a research note on Wednesday. Needham & Company LLC reduced their target price on Symbotic from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday. Citigroup reduced their target price on Symbotic from $21.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday. Northland Securities upped their target price on Symbotic from $16.00 to $20.00 in a research note on Tuesday, August 2nd. Finally, DA Davidson set a $20.00 target price on Symbotic in a research note on Thursday. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.42.

Symbotic Price Performance

Shares of NASDAQ:SYM opened at $12.22 on Thursday. The stock’s 50 day moving average price is $11.63. The stock has a market cap of $676.01 million, a price-to-earnings ratio of -1.15 and a beta of 1.24. Symbotic has a 12 month low of $8.75 and a 12 month high of $28.48.

Symbotic (NASDAQ:SYMGet Rating) last announced its quarterly earnings results on Monday, November 21st. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. Symbotic had a negative return on equity of 558.47% and a negative net margin of 10.08%.

Institutional Trading of Symbotic

Institutional investors and hedge funds have recently made changes to their positions in the company. Altshuler Shaham Ltd acquired a new stake in shares of Symbotic during the 3rd quarter worth $50,000. Bank of New York Mellon Corp acquired a new stake in Symbotic in the 3rd quarter valued at $181,000. UBS Group AG acquired a new stake in Symbotic in the 3rd quarter valued at $224,000. New York State Common Retirement Fund acquired a new stake in Symbotic in the 3rd quarter valued at $225,000. Finally, Raymond James & Associates acquired a new stake in Symbotic in the 3rd quarter valued at $267,000.

Symbotic Company Profile

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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.

Further Reading

Earnings History and Estimates for Symbotic (NASDAQ:SYM)

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