These Analysts Cut Their Forecasts On Symbotic After Q1 Results
Portfolio Pulse from Avi Kapoor
Symbotic Inc. (NASDAQ:SYM) reported mixed Q1 results with a smaller-than-expected loss per share but slightly missed revenue estimates. The company anticipates Q2 revenue between $400 million and $420 million and adjusted EBITDA between $12 million and $15 million. Following the report, Keybanc and Needham adjusted their price targets for SYM downwards, while maintaining positive ratings. SYM shares fell 1.7% to close at $49.60.
February 06, 2024 | 12:50 pm
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Symbotic Inc. reported mixed Q1 results, with earnings beating estimates but revenues slightly missing. Analysts adjusted price targets down, and shares fell 1.7%.
The mixed Q1 results, with a better-than-expected loss per share but a slight miss on revenue forecasts, could lead to short-term negative sentiment among investors. The downward adjustment of price targets by analysts further supports a potential short-term negative impact on SYM's stock price.
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