What's Going On With Symbotic Shares Today?

Symbotic Inc. SYM shares are trading higher Tuesday after the company delivered better-than-expected fourth-quarter financial results. Here’s what you need to know.

What To Know: Symbotic reported earnings per share of 5 cents, surpassing analyst expectations of 3 cents. Revenue for the quarter came in at $576.76 million, above the consensus estimate of $470.27 million and up from $391.88 million in the same period last year.

Symbotic CEO Rick Cohen expressed satisfaction with the company's performance, emphasizing that its focus on innovation and customer success contributed to strong growth. Cohen also highlighted the strength of Symbotic's long-term strategy and its commitment to sustainable growth for customers, shareholders and employees.

Looking ahead, Symbotic provided revenue guidance for the first quarter of fiscal 2025, projecting a range of $495 million to $515 million versus analyst expectations of $495.73 million. The company also anticipates adjusted EBITDA between $27 million and $31 million for the quarter.

“Looking forward to the fiscal first quarter of 2025, we expect continued strong topline growth with stable gross margins, along with targeted investments to capture an expanding set of opportunities,” said Carol Hibbard, CFO of Symbotic.

Following the earnings release, several analysts raised price targets for Symbotic. Keybanc increased its target from $40 to $48, maintaining an Overweight rating, while Needham raised its target from $40 to $46 with a Buy rating. Northland Capital Markets adjusted its target to $53 from $50, keeping an Outperform rating and Cantor Fitzgerald reiterated its $60 price target with an Overweight rating.

SYM Price Action: Symbotic shares were up 26.8% at $38.73 at the time of writing, according to Benzinga Pro.

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