Why Symbotic Stock Is Trading Lower Tuesday
Portfolio Pulse from Dylan Berman
Symbotic, Inc. (NASDAQ:SYM) stock is trading lower after reporting worse-than-expected Q3 earnings and issuing Q4 guidance below estimates. The company reported a loss of two cents per share, missing analyst estimates, but beat sales expectations with $491.86 million. Analysts have adjusted their price targets following the report.
July 30, 2024 | 4:59 pm
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Symbotic reported a Q3 loss of two cents per share, missing analyst estimates, but beat sales expectations with $491.86 million. The company issued Q4 revenue guidance below estimates, leading to a 22.9% drop in stock price. Analysts have adjusted their price targets.
Symbotic's Q3 earnings report showed a loss that missed analyst estimates and issued Q4 guidance below expectations. Despite beating sales expectations, the negative earnings and lower guidance have led to a significant drop in stock price. Analysts have responded by adjusting their price targets, indicating a negative short-term outlook.
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