Symbotic Inc. (NASDAQ:SYM) Expected to Post FY2023 Earnings of ($0.19) Per Share
Symbotic Inc. (NASDAQ:SYM – Get Rating) – Research analysts at Cantor Fitzgerald decreased their FY2023 earnings per share estimates for Symbotic in a note issued to investors on Tuesday, November 22nd. Cantor Fitzgerald analyst D. Soderberg now expects that the company will earn ($0.19) per share for the year, down from their previous estimate of ($0.02). The consensus estimate for Symbotic’s current full-year earnings is ($0.01) per share.
Other research analysts also recently issued reports about the company. UBS Group began coverage on Symbotic in a report on Monday, September 19th. They issued a “buy” rating and a $17.00 price target for the company. The Goldman Sachs Group decreased their price target on Symbotic from $13.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price target on Symbotic from $19.00 to $20.00 in a report on Wednesday. Citigroup cut their price objective on shares of Symbotic from $21.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Robert W. Baird set a $18.00 price target on shares of Symbotic in a research report on Tuesday. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Symbotic has an average rating of “Moderate Buy” and an average price target of $18.42.
Symbotic Stock Performance
Shares of NASDAQ SYM opened at $12.22 on Thursday. The firm has a market cap of $676.01 million, a PE ratio of -1.15 and a beta of 1.24. The company has a 50-day simple moving average of $11.63. Symbotic has a 52 week low of $8.75 and a 52 week high of $28.48.
Symbotic (NASDAQ:SYM – Get Rating) last posted its earnings results on Monday, November 21st. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Symbotic had a negative return on equity of 558.47% and a negative net margin of 10.08%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in SYM. Altshuler Shaham Ltd bought a new position in shares of Symbotic in the 3rd quarter worth about $50,000. Bank of New York Mellon Corp bought a new stake in Symbotic in the third quarter valued at $181,000. Navis Wealth Advisors LLC grew its position in shares of Symbotic by 2.6% during 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. UBS Group AG bought a new stake in Symbotic in the 3rd quarter valued at about $224,000. Finally, New York State Common Retirement Fund acquired a new position in Symbotic during the 3rd quarter valued at about $225,000.
Symbotic Inc, an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. It offers The Symbotic System, a full-service warehouse automation system that reduces costs, improves efficiency, and maximizes inventory. The company is based in Wilmington, Massachusetts.
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