Symbotic (NASDAQ:SYM) Posts Quarterly Earnings Results, Meets Expectations

Symbotic (NASDAQ:SYM) posted its earnings results on Monday. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05, Briefing.com reports. The firm had revenue of $576.77 million during 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 company’s revenue for the quarter was up 47.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.08) EPS. Symbotic updated its Q1 2025 guidance to EPS.

Symbotic Price Performance

Shares of Symbotic stock traded up $6.97 during midday trading on Tuesday, hitting $37.53. The company had a trading volume of 6,278,409 shares, compared to its average volume of 1,592,854. Symbotic has a 1-year low of $17.11 and a 1-year high of $59.82. The business’s 50 day simple moving average is $27.00 and its two-hundred day simple moving average is $31.09. The stock has a market cap of $21.98 billion, a PE ratio of -207.26 and a beta of 1.81.

Insider Activity

In related news, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.75, for a total transaction of $37,500.00. Following the completion of the sale, the director now owns 214,036 shares of the company’s stock, valued at $4,013,175. This represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael David Dunn sold 5,266 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $23.81, for a total transaction of $125,383.46. Following the completion of the transaction, the insider now owns 85,224 shares of the company’s stock, valued at approximately $2,029,183.44. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,878 shares of company stock worth $1,378,056. Corporate insiders own 38.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Citigroup dropped their price target on Symbotic from $62.00 to $49.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Northland Securities increased their price target on Symbotic from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday. TD Cowen decreased their price target on Symbotic from $55.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Needham & Company LLC lifted their price objective on Symbotic from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, The Goldman Sachs Group reduced their price target on Symbotic from $40.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Symbotic presently has an average rating of “Moderate Buy” and an average target price of $44.54.

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.