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

Symbotic Inc. (NASDAQ:SYM) – Equities researchers at William Blair dropped their Q3 2024 earnings estimates for Symbotic in a research report issued to clients and investors on Tuesday, May 7th. William Blair analyst R. Sparenblek now forecasts that the company will post earnings of ($0.05) per share for the quarter, down from their previous estimate 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.

A number of other brokerages have also issued reports on SYM. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Symbotic from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday. Craig Hallum raised their price objective on shares of Symbotic from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday. The Goldman Sachs Group decreased their target price on shares of Symbotic from $51.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. KeyCorp cut their price target 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. Finally, DA Davidson raised shares of 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. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Symbotic presently has an average rating of “Moderate Buy” and a consensus target price of $55.69.

Symbotic Stock Down 7.5 %

SYM opened at $44.75 on Thursday. Symbotic has a 12-month low of $23.58 and a 12-month high of $64.14. The firm has a market capitalization of $25.82 billion, a P/E ratio of -165.74 and a beta of 1.97. The stock has a fifty day moving average of $43.40 and a 200-day moving average of $44.25.

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

Insiders Place Their Bets

In other Symbotic news, insider Michael David Dunn sold 1,747 shares of Symbotic stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $40.08, for a total transaction of $70,019.76. Following the completion of the sale, the insider now owns 74,032 shares of the company’s stock, valued at approximately $2,967,202.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Michael David Dunn sold 1,747 shares of the stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $40.08, for a total value of $70,019.76. Following the sale, the insider now directly owns 74,032 shares in the company, 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 Todd Krasnow sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $39.39, for a total transaction of $78,780.00. Following the transaction, the director now owns 10,447 shares of the company’s stock, valued at approximately $411,507.33. The disclosure for this sale can be found here. In the last three months, insiders sold 7,110,447 shares of company stock valued at $275,410,529. 38.30% of the stock is currently owned by insiders.

Institutional Trading of Symbotic

Hedge funds have recently bought and sold shares of the stock. RFP Financial Group LLC raised its stake in shares of Symbotic by 21.2% in the 1st quarter. RFP Financial Group LLC now owns 1,382 shares of the company’s stock valued at $62,000 after purchasing an additional 242 shares during the period. Blair William & Co. IL lifted its position in Symbotic by 418.1% during the 1st quarter. Blair William & Co. IL now owns 33,365 shares of the company’s stock worth $1,501,000 after buying an additional 26,925 shares in the last quarter. Avantax Advisory Services Inc. grew its holdings in shares of Symbotic by 48.0% in the 1st quarter. Avantax Advisory Services Inc. now owns 9,737 shares of the company’s stock valued at $438,000 after acquiring an additional 3,160 shares in the last quarter. Swiss National Bank increased its position in shares of Symbotic by 3.4% in the first quarter. Swiss National Bank now owns 33,000 shares of the company’s stock valued at $1,485,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Zevenbergen Capital Investments LLC boosted its position in 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 during the last quarter.

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.