These Analysts Raise Their Forecasts On Symbotic After Strong Sales
Portfolio Pulse from Lisa Levin
Symbotic Inc. reported better-than-expected Q3 sales results with revenues of $311.83 million, beating the consensus of $261.02 million. However, the company's shares fell 8.3% to $58.30 on Tuesday. Post earnings announcement, several analysts including Raymond James, DA Davidson, Craig-Hallum, and Needham raised their price targets on Symbotic.
August 04, 2023 | 9:53 am
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Symbotic Inc. reported strong Q3 sales results, leading to raised price targets by several analysts. However, the company's shares fell 8.3%.
Symbotic's strong Q3 sales results led to raised price targets by several analysts, indicating a positive outlook for the company. However, the company's shares fell 8.3%, suggesting that the market may have had different expectations. The impact on the stock price in the short term is neutral as the positive sales results and raised price targets could balance out the recent drop in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100