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

Symbotic Inc. (NASDAQ:SYM) – Analysts at Northland Capmk boosted their Q3 2024 earnings estimates for Symbotic in a report issued on Monday, May 6th. Northland Capmk analyst M. Latimore now expects that the company will earn $0.01 per share for the quarter, up from their prior forecast 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.

A number of other equities analysts have also weighed in on SYM. William Blair reaffirmed a “market perform” rating on shares of Symbotic in a research note on Tuesday, February 6th. DA Davidson raised shares of Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Wednesday, February 7th. KeyCorp lowered their target price on shares of Symbotic from $63.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, February 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 target price on shares of Symbotic in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Symbotic from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.77.

Symbotic Stock Up 10.9 %

SYM stock opened at $46.50 on Wednesday. The business’s 50-day moving average price is $43.12 and its 200-day moving average price is $44.22. The stock has a market cap of $26.83 billion, a P/E ratio of -172.22 and a beta of 1.97. Symbotic has a twelve month low of $23.58 and a twelve month high of $64.14.

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

Insider Buying and Selling

In other news, insider Richard B. Cohen sold 5,000,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $38.32, for a total value of $191,600,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Richard B. Cohen sold 5,000,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $38.32, for a total transaction of $191,600,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder David A. Ladensohn sold 2,085,296 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $39.69, for a total value of $82,765,398.24. The disclosure for this sale can be found here. Insiders sold a total of 7,110,447 shares of company stock valued at $275,410,529 over the last three months. 38.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Symbotic

Several hedge funds have recently made changes to their positions in the company. Barclays PLC boosted its holdings in shares of Symbotic by 195.5% in the 3rd quarter. Barclays PLC now owns 8,008 shares of the company’s stock valued at $268,000 after acquiring an additional 5,298 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of Symbotic during the 3rd quarter valued at about $545,000. LPL Financial LLC lifted its holdings in shares of Symbotic by 578.0% in the 3rd quarter. LPL Financial LLC now owns 102,059 shares of the company’s stock valued at $3,412,000 after buying an additional 87,006 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Symbotic by 176.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 75,527 shares of the company’s stock worth $2,525,000 after buying an additional 48,214 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Symbotic during the third quarter worth about $1,101,000.

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.