Research Analysts Issue Forecasts for Symbotic Inc.’s FY2024 Earnings (NASDAQ:SYM)

Symbotic Inc. (NASDAQ:SYM – Get Rating) – Research analysts at William Blair upped their FY2024 earnings per share (EPS) estimates for Symbotic in a report issued on Tuesday, August 2nd. William Blair analyst R. Sparenblek now anticipates that the company will post earnings of $0.38 per share for the year, up from their prior forecast of $0.36. William Blair has a “Outperform” rating on the stock. The consensus estimate for Symbotic’s current full-year earnings is ($0.21) per share. William Blair also issued estimates for Symbotic’s FY2025 earnings at $0.78 EPS.

A number of other analysts have also recently weighed in on the company. Cantor Fitzgerald assumed coverage on Symbotic in a research report on Wednesday, July 20th. They issued an “overweight” rating and a $24.00 price target for the company. Raymond James boosted their price target on Symbotic from $18.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price objective on Symbotic from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday. The Goldman Sachs Group started coverage on Symbotic in a research report on Monday, July 25th. They set a “neutral” rating and a $19.00 price objective for the company. Finally, Cowen started coverage on Symbotic in a research report on Tuesday, June 21st. They set an “outperform” rating and a $18.00 price objective for the company. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Symbotic currently has an average rating of “Moderate Buy” and a consensus price target of $20.60.

Symbotic Price Performance

Shares of NASDAQ:SYM opened at $16.63 on Wednesday. Symbotic has a fifty-two week low of $9.01 and a fifty-two week high of $28.48.

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. 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.