Symbotic Inc. (NASDAQ:SYM – Get Rating) – Stock analysts at Northland Capmk increased their Q2 2023 earnings per share (EPS) estimates for shares of Symbotic in a research report issued on Tuesday, January 31st. Northland Capmk analyst M. Latimore now expects that the company will earn ($0.05) per share for the quarter, up from their prior forecast of ($0.06). The consensus estimate for Symbotic's current full-year earnings is ($0.13) per share. Northland Capmk also issued estimates for Symbotic's Q3 2023 earnings at ($0.04) EPS and FY2023 earnings at ($0.21) EPS.
Get Symbotic alerts:Other analysts also recently issued reports about the company. DA Davidson set a $20.00 price objective on Symbotic in a report on Thursday, November 24th. Robert W. Baird set a $18.00 price target on Symbotic in a report on Tuesday, November 22nd. Needham & Company LLC increased their price target on Symbotic from $17.00 to $18.00 and gave the company a "buy" rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft increased their price target on Symbotic from $20.00 to $22.00 in a report on Tuesday. Finally, The Goldman Sachs Group increased their price target on Symbotic from $10.00 to $14.00 and gave the company a "neutral" rating in a report on Tuesday. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $19.00.
Symbotic Stock Up 1.2 %
SYM stock opened at $15.45 on Thursday. The company has a market cap of $8.56 billion, a price-to-earnings ratio of -2.64 and a beta of 1.16. The business has a fifty day simple moving average of $12.67 and a 200-day simple moving average of $13.06. Symbotic has a 52 week low of $8.75 and a 52 week high of $28.48.Symbotic (NASDAQ:SYM – Get Rating) last released its quarterly earnings data on Monday, January 30th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.07). The firm had revenue of $206.30 million for the quarter, compared to analyst estimates of $193.70 million. Symbotic had a negative return on equity of 155.84% and a negative net margin of 6.08%. The company's quarterly revenue was up 167.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($4.88) earnings per share.
Hedge Funds Weigh In On Symbotic
Large investors have recently modified their holdings of the stock. Royce & Associates LP bought a new position in Symbotic in the third quarter worth about $431,000. Navis Wealth Advisors LLC lifted its holdings in Symbotic by 2.6% in the third quarter. Navis Wealth Advisors LLC now owns 754,698 shares of the company's stock worth $8,679,000 after acquiring an additional 19,310 shares during the last quarter. Emerald Mutual Fund Advisers Trust bought a new position in Symbotic in the third quarter worth about $791,000. SB Global Advisers Ltd bought a new position in Symbotic in the second quarter worth about $219,400,000. Finally, Armstrong Advisory Group Inc. acquired a new stake in shares of Symbotic in the fourth quarter valued at approximately $68,000. Institutional investors own 57.76% of the company's stock.
Insider Transactions at Symbotic
In other news, insider Michael David Dunn sold 5,000 shares of the stock in a transaction dated 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 owns 144,939 shares of the company's stock, valued at $1,642,158.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 41.00% of the company's stock.
About Symbotic
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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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