Q3 2024 Earnings Estimate for Symbotic Inc. Issued By Northland Capmk (NASDAQ:SYM)

Symbotic Inc. (NASDAQ:SYM) – Investment analysts at Northland Capmk increased their Q3 2024 earnings per share estimates for Symbotic in a report released 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 previous estimate 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.

Symbotic (NASDAQ:SYM) last announced its earnings results on Monday, February 5th. The company reported ($0.02) EPS for the quarter, beating 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 company had revenue of $368.45 million for the quarter, compared to analyst estimates of $370.28 million.

SYM has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft raised their price objective on Symbotic from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday. 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 report on Tuesday, February 6th. Northland Securities lifted their price objective on shares of Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Robert W. Baird upped their target price on shares of Symbotic from $52.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, KeyCorp cut their price target on Symbotic from $63.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.69.

Symbotic Stock Down 7.5 %

Shares of SYM stock opened at $44.75 on Wednesday. Symbotic has a 52 week low of $23.58 and a 52 week high of $64.14. The firm has a 50 day moving average of $43.40 and a 200-day moving average of $44.25. The company has a market cap of $25.82 billion, a price-to-earnings ratio of -165.74 and a beta of 1.97.

Insider Transactions at Symbotic

In other Symbotic news, major shareholder David A. Ladensohn sold 2,085,296 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $39.69, for a total value of $82,765,398.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder David A. Ladensohn sold 2,085,296 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $39.69, for a total value of $82,765,398.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William M. Boyd III sold 8,825 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $40.34, for a total value of $356,000.50. Following the completion of the transaction, the insider now owns 23,012 shares of the company’s stock, valued at $928,304.08. The disclosure for this sale can be found here. Over the last ninety 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 corporate insiders.

Institutional Investors Weigh In On Symbotic

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp bought a new stake in Symbotic in the 4th quarter worth $26,000. Providence Capital Advisors LLC purchased a new position in Symbotic during the 3rd quarter valued at about $33,000. RiverPark Advisors LLC purchased a new stake in Symbotic in the 1st quarter worth approximately $37,000. Global Retirement Partners LLC increased its stake in shares of Symbotic by 166.7% during the first quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock valued at $48,000 after buying an additional 660 shares during the period. Finally, Pingora Partners LLC bought a new position in shares of Symbotic during the fourth quarter valued at approximately $51,000.

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.