Symbotic (NASDAQ:SYM) Releases Quarterly Earnings Results, Hits Expectations

Symbotic (NASDAQ:SYM) announced its quarterly earnings results on Monday. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05, Briefing.com reports. Symbotic had a negative net margin of 1.03% and a positive return on equity of 4.08%. The company had revenue of $576.77 million for the quarter, compared to analysts’ expectations of $470.24 million. During the same quarter in the previous year, the company earned ($0.08) earnings per share. Symbotic’s quarterly revenue was up 47.2% on a year-over-year basis. Symbotic updated its Q1 2025 guidance to EPS.

Symbotic Stock Up 27.7 %

Shares of NASDAQ SYM opened at $39.02 on Wednesday. The company has a 50 day moving average of $27.00 and a 200 day moving average of $31.09. Symbotic has a twelve month low of $17.11 and a twelve month high of $59.82. The firm has a market cap of $22.85 billion, a P/E ratio of -205.37 and a beta of 1.81.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Vertical Research initiated coverage on Symbotic in a report on Tuesday, July 23rd. They set a “hold” rating and a $45.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on Symbotic from $58.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. The Goldman Sachs Group dropped their target price on shares of Symbotic from $40.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. TD Cowen decreased their price target on shares of Symbotic from $55.00 to $43.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Finally, DA Davidson reissued a “buy” rating and set a $47.00 price target on shares of Symbotic in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $44.31.

Insider Buying and Selling at Symbotic

In other news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.75, for a total value of $37,500.00. Following the completion of the sale, the director now directly owns 214,036 shares in the company, valued at $4,013,175. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael David Dunn sold 5,266 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $23.81, for a total transaction of $125,383.46. Following the transaction, the insider now owns 85,224 shares in the company, valued at approximately $2,029,183.44. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,878 shares of company stock worth $1,378,056. Insiders own 38.30% of the company’s stock.

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.