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

Symbotic Inc. (NASDAQ:SYMGet Rating) – Northland Capmk dropped their FY2024 earnings 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 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 posted its quarterly earnings data on Monday, November 21st. The company reported ($0.04) EPS for the quarter, topping 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%.

SYM has been the topic of a number of other research reports. Citigroup cut their price target on shares of Symbotic from $21.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday. DA Davidson set a $20.00 price target on shares of Symbotic in a report on Thursday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Symbotic from $19.00 to $20.00 in a report on Wednesday. UBS Group began coverage on shares of Symbotic in a report on Monday, September 19th. They set a “buy” rating and a $17.00 price target on the stock. Finally, Northland Securities raised their price target on shares of Symbotic from $16.00 to $20.00 in a report on Tuesday, August 2nd. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Symbotic has an average rating of “Moderate Buy” and a consensus target price of $18.42.

Symbotic Stock Up 13.5 %

Shares of NASDAQ:SYM opened at $12.22 on Thursday. The firm’s fifty day moving average is $11.63. The firm 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.

Institutional Trading of Symbotic

Several hedge funds and other institutional investors have recently bought and sold shares of SYM. Altshuler Shaham Ltd acquired a new stake in Symbotic in the 3rd quarter worth $50,000. Bank of New York Mellon Corp acquired a new stake in Symbotic in the 3rd quarter worth $181,000. UBS Group AG acquired a new stake in Symbotic in the 3rd quarter worth $224,000. New York State Common Retirement Fund acquired a new stake in shares of Symbotic during the 3rd quarter valued at about $225,000. Finally, Raymond James & Associates acquired a new stake in shares of Symbotic during the 3rd quarter valued at about $267,000.

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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