Streetbeat News

SYM

Symbotic Inc.

https://www.symbotic.com

Industry

Shell Companies

Symbotic Inc., an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. It offers The Symbotic System, a full-service warehouse automation system that reduces costs, improves efficiency, and maximizes inventory. The company is based in Wilmington, Massachusetts.

Open

30.26

Mkt cap

3.1B

Volume

867K

High

30.26

P/E Ratio

-147.45

52-wk high

59.82

Low

29.08

Div yield

N/A

52-wk low

17.11

Goldman Sachs analyst Mark Delaney has maintained a Neutral rating on Symbotic (NASDAQ:SYM) and increased the price target from $36 to $40.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 2:33 pm

DLocal Limited reported lower-than-expected Q3 earnings and sales, reaffirmed FY23 revenue guidance below estimates, and announced the CFO's departure, causing shares to drop 12.9% in pre-market. Other stocks experiencing pre-market losses include Guess?, The Beachbody Company, Gaotu Techedu, Virgin Galactic, Autodesk, MorphoSys, Symbotic, and HP Inc. Reasons for declines vary from disappointing financial results to company-specific news such as reverse stock splits and study results.

Portfolio Pulse from Lisa Levin

November 22, 2023 | 11:05 am

U.S. stocks declined as the FOMC minutes were released, with the Dow, NASDAQ, and S&P 500 all falling. Health care shares rose by 0.8%, while information technology shares dropped by 0.9%. Burlington Stores, Symbotic, and Hibbett saw their shares rise after reporting positive financial results. Conversely, reAlpha Tech, vTv Therapeutics, and Galmed Pharmaceuticals experienced significant share price drops due to a public offering, reverse stock split, and study delay, respectively. Gold prices increased by 1.1%, and sales of previously owned homes in the U.S. fell by 4.1%.

Portfolio Pulse from Lisa Levin

November 21, 2023 | 7:35 pm

During Tuesday's intraday session, several industrial stocks experienced significant movements. Symbotic (SYM) saw a 35.2% increase after Q4 earnings release, while Tigo Energy (TYGO) rose 19.62%. Dycom Industries (DY) gained 18.43% following their Q3 earnings report. Dragonfly Energy Hldgs (DFLI), Astra Space (ASTR), and Golden Ocean Group (GOGL) also saw gains. Conversely, Microvast Holdings (MVST) dropped 31.5%, Gaucho Group Holdings (VINO) fell 18.63%, and Recruiter.Com Group (RCRT), Xos (XOS), Surf Air Mobility (SRFM), and ATIF Holdings (ATIF) experienced declines.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 5:31 pm

The Nasdaq Composite fell over 100 points, with the broader U.S. stock market also trading lower. Burlington Stores, Inc. (BURL) shares surged over 20% after reporting Q3 results that beat earnings estimates but slightly missed on revenue. Anghami Inc. (ANGH), Symbotic Inc. (SYM), and Hibbett, Inc. (HIBB) saw their shares rise significantly after positive news. Conversely, reAlpha Tech Corp. (AIRE), vTv Therapeutics Inc. (VTVT), and Galmed Pharmaceuticals Ltd. (GLMD) experienced sharp declines due to various negative developments.

Portfolio Pulse from Lisa Levin

November 21, 2023 | 5:04 pm

Symbotic Inc (NASDAQ:SYM) reported Q4 sales of $392 million, surpassing the consensus estimate of $306.9 million. The company's quarterly losses narrowed to 8 cents per share from 10 cents per share year-over-year. Following the earnings report, SYM's stock price soared by 37.2% to $50.97. Analysts from Keybanc, Goldman Sachs, Needham, and Cantor Fitzgerald have updated their price targets and ratings for Symbotic, with most maintaining positive outlooks.

Portfolio Pulse from Lisa Levin

November 21, 2023 | 4:45 pm

Symbotic Inc (NASDAQ:SYM) stock surged after reporting Q4 revenue of $392 million, surpassing the consensus estimate of $306.9 million. The company also reported a quarterly loss of 8 cents per share. CEO Rick Cohen highlighted the year's growth and the company's focus on innovation and scaling for growth in fiscal 2024. Symbotic expects Q1 revenue between $350 million and $370 million, with adjusted EBITDA of $11 million to $14 million. Analysts from Keybanc, Needham, and Goldman Sachs updated their ratings and price targets, with Keybanc raising its target from $50 to $63, Needham maintaining at $58, and Goldman Sachs increasing from $36 to $40. SYM shares rose 19.9% to $44.42.

Portfolio Pulse from Adam Eckert

November 21, 2023 | 3:16 pm

Cantor Fitzgerald analyst Derek Soderberg has reiterated an Overweight rating on Symbotic (NASDAQ:SYM) and maintained a $60 price target for the company's stock.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 2:59 pm

Symbotic's stock price has increased following the announcement of their Q4 sales results, which exceeded expectations.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 1:46 pm

In Tuesday's pre-market session, several industrial stocks showed significant movement. Symbotic (SYM) experienced a notable gain of 27.7% after their Q4 earnings release. Dycom Industries (DY) and Golden Ocean Group (GOGL) also saw their shares rise by 9.23% and 4.72% respectively, following their earnings reports. On the losing side, Turbo Energy (TURB), Gaucho Group Holdings (VINO), and Applied UV (AUVI) faced declines after their earnings were announced. Other stocks such as Desktop Metal (DM), Freight Technologies (FRGT), Gates Industrial Corp (GTES), SES AI (SES), Jacobs Solutions (J), and Nuvve Holding (NVVE) also experienced movements in their stock prices.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 1:06 pm

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