Where Will Symbotic Stock Be in 1 Year?
Symbotic's (NASDAQ: SYM) stock price plunged 24% on Feb. 6 after the warehouse automation company posted its latest earnings report. For the first quarter of fiscal 2024, which ended on Dec. 30, 2023, its revenue rose 79% year over year to $369 million and matched analysts' expectations. It narrowed its net loss from $68 million to $13 million, or $0.02 per share, which also cleared the consensus forecast by two cents.
Its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) also improved from negative $16 million to positive $14 million -- which marked its second quarter of positive adjusted EBITDA.
Symbotic's headline numbers looked solid, but its high valuations likely set it up for its post-earnings drop. Even after its recent decline, its stock remains up more than 140% over the past 12 months. Can it head even higher over the next year?
Source Fool.com
