Symbotic (NASDAQ:SYM) Issues Earnings Results, Hits Estimates

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

Symbotic Price Performance

Shares of NASDAQ SYM traded up $7.76 during midday trading on Tuesday, hitting $38.32. 6,451,319 shares of the company’s stock were exchanged, compared to its average volume of 1,591,742. Symbotic has a twelve month low of $17.11 and a twelve month high of $59.82. The firm has a market cap of $22.44 billion, a P/E ratio of -207.26 and a beta of 1.81. The stock’s 50 day moving average price is $27.00 and its 200-day moving average price is $31.09.

Wall Street Analyst Weigh In

SYM has been the subject of several research reports. Robert W. Baird reduced their price target on shares of Symbotic from $53.00 to $41.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. The Goldman Sachs Group reduced their target price on shares of Symbotic from $40.00 to $30.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Craig Hallum lowered their price target on Symbotic from $54.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their price objective on Symbotic from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, Needham & Company LLC lifted their target price on Symbotic from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $44.54.

Insider Buying and Selling

In related news, Director Todd Krasnow sold 2,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $23.96, for a total value of $47,920.00. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at $47,920. This trade represents a 50.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Carol J. Hibbard sold 22,821 shares of Symbotic stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total value of $660,896.16. Following the completion of the transaction, the chief financial officer now directly owns 34,188 shares in the company, valued at $990,084.48. This represents a 40.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,878 shares of company stock valued at $1,378,056 over the last 90 days. 38.30% of the stock is currently owned by company insiders.

Symbotic Company Profile

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.