Symbotic: Maintaining Growth Trajectory [Seeking Alpha]
Symbotic Inc. - Class A (SYM)
Company Research
Source: Seeking Alpha
The company provided strong Q3 guidance of $450 - $470 million, and expects system deployments to accelerate in the coming quarters. The company announced key innovation updates and is delivering on its growth strategy. Q2: Solid Quarter Symbotic (NASDAQ: NASDAQ: SYM ) delivered mixed Q2 results with revenue beating expectations but EPS missing estimates. The company reported revenue of $424.3 million, a 59% YoY increase, beating consensus by $11 million. However, EPS came in at -$0.07, a miss of $0.03. Company provided Q3 guidance of $450 - $470 million, which was above consensus. Market reaction was mixed, with stock up initially by 10% but then retraced the gains throughout the week. Symbotic is part of our robotics portfolio, and we have high expectations from the company. The company wants to transform a $1 trillion legacy industry with its fully automated AI and robotics platform. We started our coverage of the company in November 2023 with a buy rating (see below) Symb
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SYM
News
- Hai Robotics Expands American Leadership Team to Support Growing U.S.-Based Customer Support, Software Development, and Strategic Partnerships [Yahoo! Finance]Yahoo! Finance
- Is Symbotic Stock a Buy Now? [Yahoo! Finance]Yahoo! Finance
- Symbotic Inc. (NASDAQ: SYM) had its "market perform" rating re-affirmed by analysts at William Blair.MarketBeat
- Law firm Sullivan & Cromwell joins AI gold rush with new practice [Reuters]Reuters
- Is Symbotic Stock Going to $53? 1 Wall Street Analyst Thinks So. [Yahoo! Finance]Yahoo! Finance
SYM
Earnings
- 5/6/24 - Beat
SYM
Sec Filings
- 5/30/24 - Form 4
- 5/28/24 - Form 144
- 5/24/24 - Form 4
- SYM's page on the SEC website