Northland lowered the firm’s price target on Symbotic (SYM) to $35 from $53 and keeps an Outperform rating on the shares after the company announced they are delaying their 10K as they are further having to fix FY24 reported numbers and lowered Q1 of FY25 revenue guidance to 36% growth and EBITDA guidance to 75% growth. The firm is lowering its estimates, starting with that new baseline, the analyst tells investors.
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Read More on SYM:
- Symbotic Craters 36% on Financial Misstatements and 10-K Filing Delay
- Craig-Hallum downgrades Symbotic on ‘credibility hit’ from accounting problems
- Symbotic downgraded to Hold from Buy at Craig-Hallum
- Symbotic downgraded to Sector Weight from Overweight at KeyBanc
- Booking initiated, Workday downgraded: Wall Street’s top analyst calls
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
