Symbotic (NASDAQ:SYM – Get Rating) released its quarterly earnings results on Monday. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.07), Briefing.com reports. The firm had revenue of $206.30 million for the quarter, compared to the consensus estimate of $193.70 million. Symbotic had a negative return on equity of 155.84% and a negative net margin of 6.08%. The firm's revenue was up 167.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($4.88) EPS. Symbotic updated its Q2 2023 guidance to EPS.

Symbotic Price Performance

Symbotic stock opened at $15.65 on Wednesday. Symbotic has a fifty-two week low of $8.75 and a fifty-two week high of $28.48. The firm's 50 day simple moving average is $12.55 and its 200-day simple moving average is $13.03. The company has a market cap of $8.67 billion, a P/E ratio of -2.67 and a beta of 0.96.

Insider Activity at Symbotic

In other Symbotic news, insider Michael David Dunn sold 5,000 shares of Symbotic stock in a transaction that occurred on Wednesday, December 7th. The shares were sold at an average price of $11.33, for a total transaction of $56,650.00. Following the transaction, the insider now directly owns 144,939 shares in the company, valued at approximately $1,642,158.87. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 41.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Symbotic

Analysts Set New Price Targets

SYM has been the subject of a number of recent analyst reports. Robert W. Baird set a $18.00 price objective on Symbotic in a report on Tuesday, November 22nd. Deutsche Bank Aktiengesellschaft increased their price target on Symbotic from $20.00 to $22.00 in a research note on Tuesday. Needham & Company LLC lifted their price objective on shares of Symbotic from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Tuesday. The Goldman Sachs Group increased their target price on shares of Symbotic from $10.00 to $14.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, DA Davidson set a $20.00 price target on shares of Symbotic in a research report on Thursday, November 24th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $19.00.

Symbotic Company Profile

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Symbotic Inc, an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. The company offers Symbotic system, an end-to-end warehouse automation system for product distribution. It also designs, assemblies, and installs modular inventory management systems and performs configuration of embedded software.

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