Q3 2024 EPS Estimates for Symbotic Inc. (NASDAQ:SYM) Cut by Analyst

Symbotic Inc. (NASDAQ:SYM) – Analysts at William Blair decreased their Q3 2024 EPS estimates for shares of Symbotic in a research note issued to investors on Tuesday, May 7th. William Blair analyst R. Sparenblek now anticipates that the company will post earnings per share of ($0.05) for the quarter, down from their prior forecast of $0.01. William Blair has a “Market Perform” rating on the stock. The consensus estimate for Symbotic’s current full-year earnings is ($0.03) per share. William Blair also issued estimates for Symbotic’s Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at ($0.18) EPS and FY2025 earnings at $0.11 EPS.

Other equities analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft increased their price target on Symbotic from $57.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday. DA Davidson raised Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Wednesday, February 7th. Northland Securities upped their price target on shares of Symbotic from $55.00 to $60.00 and gave the company 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 on the stock in a research note on Tuesday, February 6th. Finally, Robert W. Baird boosted their target price on shares of Symbotic from $52.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $55.69.

Symbotic Trading Up 4.0 %

Symbotic stock opened at $48.36 on Thursday. The firm has a market cap of $27.91 billion, a price-to-earnings ratio of -179.11 and a beta of 1.97. Symbotic has a 12 month low of $23.58 and a 12 month high of $64.14. The stock has a fifty day simple moving average of $43.30 and a two-hundred day simple moving average of $44.25.

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

Institutional Trading of Symbotic

A number of large investors have recently modified their holdings of SYM. Baillie Gifford & Co. bought a new position in Symbotic during the 1st quarter worth about $426,752,000. 1832 Asset Management L.P. lifted its position in shares of Symbotic by 189.5% in the 4th quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company’s stock worth $54,174,000 after purchasing an additional 690,900 shares during the period. Zevenbergen Capital Investments LLC boosted its stake in shares of Symbotic by 1,826.2% during the first quarter. Zevenbergen Capital Investments LLC now owns 361,167 shares of the company’s stock valued at $16,253,000 after purchasing an additional 342,417 shares in the last quarter. Coatue Management LLC purchased a new position in Symbotic during the fourth quarter valued at approximately $11,088,000. Finally, Hodges Capital Management Inc. purchased a new position in Symbotic during the third quarter valued at approximately $5,740,000.

Insider Activity

In other Symbotic news, Director Merline Saintil sold 3,135 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $44.74, for a total transaction of $140,259.90. Following the transaction, the director now owns 62,312 shares in the company, valued at $2,787,838.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Symbotic news, insider Michael David Dunn sold 1,747 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $40.08, for a total value of $70,019.76. Following the transaction, the insider now owns 74,032 shares of the company’s stock, valued at approximately $2,967,202.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Merline Saintil sold 3,135 shares of Symbotic stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $44.74, for a total value of $140,259.90. Following the sale, the director now owns 62,312 shares of the company’s stock, valued at $2,787,838.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,110,447 shares of company stock valued at $275,410,529. 38.30% of the stock is currently owned by insiders.

About Symbotic

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.