SymboticNASDAQ: SYM

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?

Symbotic stock price staged a strong comeback on Monday after the warehouse technology company published strong financial results. SYM shares jumped by over 26%, reaching a high of $38.60, its highest level since July this year.

Symbotic Inc.'s unique automation platform and first mover advantage in AI-enabled robotics technology significantly reduce warehouse labor costs and improve retailers' ROI. Recent international expansion, including a contract with Walmex, positions Symbotic for strong growth in South America and beyond. Symbotic's robust $22.4 billion backlog and impressive revenue growth support a one-year target price of $55 per share.

Symbotic Inc. (SYM) came out with quarterly earnings of $0.05 per share, beating the Zacks Consensus Estimate of $0.03 per share. This compares to loss of $0.08 per share a year ago.

Recently, Zacks.com users have been paying close attention to SYMBOTIC INC (SYM). This makes it worthwhile to examine what the stock has in store.

SYM's top-line results for the fourth quarter of fiscal 2024 are likely to gain from its 39 systems in the deployment process.

The latest trading day saw Symbotic Inc. (SYM) settling at $34.32, representing a -1.66% change from its previous close.

In the most recent trading session, Symbotic Inc. (SYM) closed at $29.96, indicating a +1.49% shift from the previous trading day.

WILMINGTON, Mass., Oct. 28, 2024 (GLOBE NEWSWIRE) -- Symbotic Inc. (Nasdaq: SYM), a leader in A.I.