Symbotic Inc. (NASDAQ:SYM) Expected to Earn Q2 2024 Earnings of $0.06 Per Share

Symbotic Inc. (NASDAQ:SYM – Get Rating) – Equities researchers at William Blair issued their Q2 2024 earnings per share estimates for Symbotic in a note issued to investors on Monday, May 22nd. William Blair analyst R. Sparenblek expects that the company will post earnings per share of $0.06 for the quarter. William Blair has a “Outperform” rating on the stock. The consensus estimate for Symbotic’s current full-year earnings is ($0.29) per share. William Blair also issued estimates for Symbotic’s Q4 2024 earnings at $0.12 EPS and FY2026 earnings at $1.28 EPS.

Other analysts have also recently issued reports about the company. Citigroup raised their target price on Symbotic from $16.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, April 10th. Cantor Fitzgerald raised their target price on Symbotic from $24.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, April 20th. Needham & Company LLC raised their target price on Symbotic from $25.00 to $31.00 in a research note on Tuesday, May 2nd. Deutsche Bank Aktiengesellschaft raised their target price on Symbotic from $31.00 to $36.00 in a research note on Monday. Finally, The Goldman Sachs Group lifted their price objective on Symbotic from $10.00 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 31st. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.31.

Symbotic Trading Up 0.0 %

SYM opened at $31.14 on Tuesday. The company has a market cap of $17.30 billion, a P/E ratio of -88.94 and a beta of 1.31. The business’s 50-day moving average price is $25.32 and its 200-day moving average price is $17.68. Symbotic has a 12 month low of $8.75 and a 12 month high of $32.44.

Symbotic (NASDAQ:SYM – Get Rating) last released its quarterly earnings data on Monday, May 1st. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.04). The company had revenue of $266.85 million during the quarter, compared to analysts’ expectations of $224.82 million. Symbotic had a negative return on equity of 78.17% and a negative net margin of 2.26%. The firm’s quarterly revenue was up 177.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($5.61) EPS.

Insider Buying and Selling at Symbotic

In other Symbotic news, insider Michael David Dunn sold 12,639 shares of the business’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $16.61, for a total transaction of $209,933.79. Following the completion of the sale, the insider now directly owns 163,769 shares in the company, valued at approximately $2,720,203.09. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Michael David Dunn sold 12,639 shares of the business’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $16.61, for a total transaction of $209,933.79. Following the completion of the sale, the insider now owns 163,769 shares of the company’s stock, valued at approximately $2,720,203.09. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Rollin L. Ford acquired 8,000 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were acquired at an average cost of $24.70 per share, with a total value of $197,600.00. Following the transaction, the director now owns 8,000 shares in the company, valued at $197,600. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 33,747 shares of company stock worth $635,409. Insiders own 41.00% of the company’s stock.

Institutional Investors Weigh In On Symbotic

A number of hedge funds have recently modified their holdings of the business. Rockefeller Capital Management L.P. bought a new position in Symbotic in the 4th quarter worth $29,000. JPMorgan Chase & Co. boosted its holdings in Symbotic by 1,412.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,512 shares of the company’s stock worth $35,000 after buying an additional 1,412 shares during the period. Toronto Dominion Bank bought a new position in Symbotic in the 4th quarter worth $36,000. Altshuler Shaham Ltd bought a new position in Symbotic in the 3rd quarter worth $50,000. Finally, Advisor Group Holdings Inc. boosted its holdings in Symbotic by 30.4% in the 4th quarter. Advisor Group Holdings Inc. now owns 4,299 shares of the company’s stock worth $52,000 after buying an additional 1,002 shares during the period. Institutional investors own 57.76% of the company’s stock.

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. The company offers Symbotic system, an end-to-end warehouse automation system for product distribution. It also designs, assemblies, and installs modular inventory management systems and performs configuration of embedded software.