Symbiotic Analysts Slash Their Forecasts After Weak Earnings
Portfolio Pulse from Avi Kapoor
Symbotic Inc. (NASDAQ:SYM) reported weaker-than-expected third-quarter earnings and issued lower fourth-quarter revenue guidance. Despite record revenue, the company missed earnings estimates and saw its shares drop by 21.1%. Analysts have lowered their price targets but maintained Buy ratings.
July 30, 2024 | 3:26 pm
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Symbotic Inc. reported weaker-than-expected Q3 earnings and lower Q4 revenue guidance, leading to a 21.1% drop in share price. Analysts lowered their price targets but maintained Buy ratings.
Symbotic's weaker-than-expected earnings and lower revenue guidance have led to a significant drop in share price. Analysts' lowered price targets reflect reduced confidence in short-term performance, despite maintaining Buy ratings.
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