Symbotic (SYM) Scheduled to Post Quarterly Earnings on Monday

Symbotic (NASDAQ:SYM) will post its quarterly earnings results after the market closes on Monday, May 6th. Analysts expect Symbotic to post earnings of ($0.03) per share for the quarter. Symbotic has set its Q2 2024 guidance at EPS.Parties interested in listening to the company’s conference call can do so using this link.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Monday, February 5th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $368.45 million during the quarter, compared to analysts’ expectations of $370.28 million. Symbotic had a negative net margin of 1.39% and a negative return on equity of 35.06%. On average, analysts expect Symbotic to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Symbotic Trading Up 2.9 %

NASDAQ:SYM opened at $41.13 on Friday. Symbotic has a 12-month low of $23.58 and a 12-month high of $64.14. The firm has a market cap of $23.73 billion, a PE ratio of -152.33 and a beta of 1.97. The stock has a fifty day moving average price of $42.99 and a 200 day moving average price of $44.19.

Insider Buying and Selling at Symbotic

In related news, insider Michael David Dunn sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $40.00, for a total value of $80,000.00. Following the sale, the insider now directly owns 72,032 shares in the company, valued at approximately $2,881,280. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Symbotic news, insider William M. Boyd III sold 8,825 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $40.34, for a total value of $356,000.50. Following the completion of the sale, the insider now directly owns 23,012 shares of the company’s stock, valued at approximately $928,304.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael David Dunn sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $40.00, for a total transaction of $80,000.00. Following the sale, the insider now owns 72,032 shares of the company’s stock, valued at $2,881,280. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,112,447 shares of company stock worth $275,513,529. 38.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SYM has been the subject of a number of research reports. The Goldman Sachs Group reduced their price objective on Symbotic from $51.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. KeyCorp reduced their price target on Symbotic from $63.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a report on Tuesday, February 6th. William Blair restated a “market perform” rating on shares of Symbotic in a report on Tuesday, February 6th. Finally, Northland Securities lifted their target price on shares of Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

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.