Why Symbotic Shares Are Trading Higher By Around 22%; Here Are 20 Stocks Moving Premarket
Portfolio Pulse from Lisa Levin
Symbotic Inc. (NASDAQ:SYM) shares increased by approximately 22% in pre-market trading following the announcement of Q4 sales that surpassed analyst expectations. The company reported sales of $392 million against a consensus estimate of $306.9 million. Despite reporting a quarterly loss of 8 cents per share, this was an improvement from the 10 cents per share loss in the same period last year. Keybanc upgraded Symbotic's price target from $50 to $63. Other stocks also showed significant movement in pre-market trading, with various gainers and losers listed.
November 21, 2023 | 1:05 pm
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Symbotic Inc. reported higher than expected Q4 sales, leading to a 22% increase in pre-market trading. Keybanc raised the price target from $50 to $63.
The positive earnings report and the raised price target by Keybanc are strong indicators of investor confidence and potential continued short-term growth for SYM's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100