Q3 2024 EPS Estimates for Symbotic Inc. (NASDAQ:SYM) Raised by Northland Capmk

Symbotic Inc. (NASDAQ:SYM) – Analysts at Northland Capmk raised their Q3 2024 earnings estimates for shares of Symbotic in a research report issued to clients and investors on Monday, May 6th. Northland Capmk analyst M. Latimore now forecasts that the company will post earnings of $0.01 per share for the quarter, up from their previous estimate of ($0.01). The consensus estimate for Symbotic’s current full-year earnings is ($0.03) per share. Northland Capmk also issued estimates for Symbotic’s Q4 2024 earnings at $0.03 EPS, Q1 2025 earnings at $0.03 EPS, Q2 2025 earnings at $0.07 EPS, Q3 2025 earnings at $0.10 EPS, Q4 2025 earnings at $0.13 EPS and FY2025 earnings at $0.33 EPS.

Symbotic (NASDAQ:SYM) last released its quarterly earnings results on Monday, February 5th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $368.45 million for the quarter, compared to analyst estimates of $370.28 million. Symbotic had a negative net margin of 1.39% and a negative return on equity of 35.06%.

A number of other equities research analysts have also commented on SYM. Craig Hallum increased their price target on Symbotic from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday. KeyCorp lowered their target price on Symbotic from $63.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, February 6th. Northland Securities upped their price target on shares of Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. The Goldman Sachs Group lowered their price objective on shares of Symbotic from $51.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $54.00 target price on shares of Symbotic in a research report on Tuesday. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $55.69.

Symbotic Trading Up 4.0 %

NASDAQ SYM opened at $48.36 on Wednesday. Symbotic has a 1-year low of $23.58 and a 1-year high of $64.14. The company has a 50 day moving average of $43.30 and a 200-day moving average of $44.25. The firm has a market cap of $27.91 billion, a price-to-earnings ratio of -179.11 and a beta of 1.97.

Institutional Trading of Symbotic

A number of large investors have recently bought and sold shares of the business. Van ECK Associates Corp acquired a new stake in shares of Symbotic in the 4th quarter valued at about $26,000. Providence Capital Advisors LLC bought a new stake in Symbotic in the 3rd quarter valued at approximately $33,000. RiverPark Advisors LLC acquired a new position in Symbotic during the 1st quarter worth approximately $37,000. Global Retirement Partners LLC grew its stake in shares of Symbotic by 166.7% during the 1st quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock worth $48,000 after acquiring an additional 660 shares in the last quarter. Finally, Pingora Partners LLC acquired a new stake in shares of Symbotic in the fourth quarter valued at approximately $51,000.

Insider Transactions at Symbotic

In related news, insider Michael David Dunn sold 2,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $40.00, for a total value of $80,000.00. Following the completion of the sale, the insider now owns 72,032 shares in the company, valued at $2,881,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder David A. Ladensohn sold 2,085,296 shares of Symbotic stock in a transaction on Monday, February 26th. The shares were sold at an average price of $39.69, for a total transaction of $82,765,398.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael David Dunn sold 2,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $40.00, for a total transaction of $80,000.00. Following the completion of the sale, the insider now owns 72,032 shares of the company’s stock, valued at approximately $2,881,280. The disclosure for this sale can be found here. Insiders have sold 7,110,447 shares of company stock worth $275,410,529 in the last three months. Insiders own 38.30% of the company’s stock.

Symbotic Company Profile

Symbotic Inc, an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. The company automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Its systems enhance operations at the front end of the supply chain.