Q3 2024 Earnings Forecast for Symbotic Inc. (NASDAQ:SYM) Issued By Northland Capmk

Symbotic Inc. (NASDAQ:SYM - Free Report) - Research analysts at Northland Capmk upped their Q3 2024 EPS estimates for shares of Symbotic in a report released on Monday, May 6th. Northland Capmk analyst M. Latimore now expects that the company will post earnings per share of $0.01 for the quarter, up from their prior forecast of ($0.01). The consensus estimate for Symbotic's current full-year earnings is ($0.03) per share. Northland Capmk also issued estimates for Symbotic's Q4 2024 earnings at $0.03 EPS, Q1 2025 earnings at $0.03 EPS, Q2 2025 earnings at $0.07 EPS, Q3 2025 earnings at $0.10 EPS, Q4 2025 earnings at $0.13 EPS and FY2025 earnings at $0.33 EPS.

A number of other brokerages also recently commented on SYM. Northland Securities upped their price objective on shares of Symbotic from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 10th. William Blair reissued a "market perform" rating on shares of Symbotic in a report on Tuesday, February 6th. Robert W. Baird lifted their price objective on Symbotic from $52.00 to $53.00 and gave the company an "outperform" rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft increased their target price on Symbotic from $57.00 to $58.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, The Goldman Sachs Group decreased their price target on Symbotic from $51.00 to $44.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Symbotic currently has a consensus rating of "Moderate Buy" and an average price target of $55.69.

Symbotic Trading Up 4.0 %

Shares of SYM traded up $1.86 during mid-day trading on Wednesday, hitting $48.36. 2,177,656 shares of the company's stock were exchanged, compared to its average volume of 1,433,001. The business's 50 day moving average is $43.12 and its two-hundred day moving average is $44.22. Symbotic has a fifty-two week low of $23.58 and a fifty-two week high of $64.14. The firm has a market capitalization of $27.91 billion, a P/E ratio of -178.04 and a beta of 1.97.

Symbotic (NASDAQ:SYM - Get Free Report) last issued its quarterly earnings results on Monday, February 5th. The company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $368.45 million during the quarter, compared to analysts' expectations of $370.28 million.

Insider Activity at Symbotic

In other news, insider Michael David Dunn sold 1,747 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now directly owns 74,032 shares of the company's stock, valued at approximately $2,967,202.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Michael David Dunn sold 1,747 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $40.08, for a total transaction of $70,019.76. Following the sale, the insider now owns 74,032 shares of the company's stock, valued at $2,967,202.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Merline Saintil sold 3,135 shares of the business's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $44.74, for a total transaction of $140,259.90. Following the completion of the transaction, the director now directly owns 62,312 shares of the company's stock, valued at approximately $2,787,838.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,110,447 shares of company stock valued at $275,410,529. Insiders own 38.30% of the company's stock.

Institutional Trading of Symbotic

A number of hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Symbotic by 8.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,875 shares of the company's stock worth $250,000 after purchasing an additional 400 shares during the last quarter. Natixis Advisors L.P. grew its stake in shares of Symbotic by 4.3% during the 4th quarter. Natixis Advisors L.P. now owns 10,983 shares of the company's stock valued at $563,000 after buying an additional 456 shares during the period. Van ECK Associates Corp acquired a new stake in shares of Symbotic during the 4th quarter worth $26,000. Bourne Lent Asset Management Inc. increased its holdings in shares of Symbotic by 1.0% during the 4th quarter. Bourne Lent Asset Management Inc. now owns 58,260 shares of the company's stock worth $2,990,000 after buying an additional 600 shares during the last quarter. Finally, TFC Financial Management Inc. raised its position in shares of Symbotic by 97.1% in the 4th quarter. TFC Financial Management Inc. now owns 1,226 shares of the company's stock worth $63,000 after buying an additional 604 shares during the period.

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.