Craig-Hallum analyst Greg Palm maintains $Symbotic (SYM.US)$ with a buy rating.
According to TipRanks data, the analyst has a success rate of 57.4% and a total average return of 13.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Symbotic (SYM.US)$'s main analysts recently are as follows:
Following the discovery of additional accounting errors in its revenue recognition tied to cost overruns that are not billable on certain deployments, it was announced that Symbotic would revise its FY24 EBITDA projections downwards by $30M-$40M and adjust its fiscal Q1 revenue guidance to $480M-$500M from $495M-$515M. The full scope of the impact will be clearer once the 10-K is filed in the upcoming weeks. Analysts indicate that these restatements seem to be strictly related to accounting issues without reflecting a shift in customer behavior or order volume. However, it is anticipated that investor caution may persist until the company can restore trust in its internal accounting procedures.
Forecasting remains challenging, yet there appears to be advancement in insourcing project management that exceeds expectations. Additionally, significant projects have been secured in Mexico and initiated at GreenBox.
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