Selected stock price target news of the day - November 20th, 2024

By: Matthew Otto

Symbotic Exceeds Revenue Expectations in Q4 FY2024 and Issues Optimistic FY2025 Guidance

Symbotic announced its financial results for the fourth quarter and fiscal year ended September 28, 2024 and reported Q4 earnings per share (EPS) of $0.05, in line with analyst expectations, and revenue of $576.77 million, surpassing the consensus estimate of $470.24 million. This represents a 47% increase from $392 million in Q4 FY2023.

Net income reached $28 million, compared to a net loss of $45 million a year earlier, while adjusted EBITDA surged to $55 million, up from $13 million in the prior-year period. For FY2024, Symbotic posted revenue of $1.82 billion, reflecting 55% year-over-year growth, a net loss of $51 million, and adjusted EBITDA of $96 million.

Looking ahead, Symbotic provided revenue guidance for Q1 FY2025 of $495 million to $515 million, aligning closely with the consensus estimate of $495.7 million. Adjusted EBITDA is projected to range from $27 million to $31 million.

Analysts noted Symbotic’s execution and margin recovery, with William Blair’s Ross Sparenblek and Sam Karlov describing Q4 as a “credibility-building quarter.” They acknowledged the company’s ability to address operational challenges, including supply chain disruptions, and its long-term growth potential as it works toward doubling capacity by 2027.

Analyst Ratings Reflect Mixed Views on Strong Q4 Results

DA Davidson analyst Matt Summerville maintained a Buy rating and a price target of $47.
BWS Financial analyst Hamed Khorsand maintained a Sell rating and the price target at $10.
Cantor Fitzgerald analyst Derek Soderberg reiterated an Overweight rating and a price target of $60.
Northland Capital Markets analyst Michael Latimore kept an Outperform rating and raised the price target from $50 to $53.
Needham analyst James Ricchiuti maintained a Buy rating and lifted the price target from $40 to $46.
Keybanc analyst Ken Newman also kept an Overweight rating and increased the price target from $40 to $48.

Which Analyst has the best track record to show on SYM?

Analyst James Ricchiuti (NEEDHAM) currently has the highest performing score on SYM with 10/13 (76.92%) price target fulfillment ratio. His price targets carry an average of $12.75 (46.79%) potential upside. Symbotic stock price reaches these price targets on average within 38 days.

Walmart Raises Outlook as Q3 Earnings and Revenue Exceed Expectations

Walmart exceeded third-quarter earnings and revenue expectations, reporting an adjusted earnings per share (EPS) at $0.58, beating the consensus estimate of $0.53. Revenue rose to $169.6 billion, surpassing analysts’ forecast of $167.72 billion.

Comparable sales in the U.S., excluding fuel, jumped 5.3%, while Sam’s Club saw an even larger gain of 7%, outperforming projections of 3.8% and 4.22%, respectively. E-commerce sales grew 22%, fueled by curbside pickup, home delivery, and performance in Walmart’s advertising and third-party marketplace businesses. Additionally, Walmart’s U.S. transactions increased 3.1%, with the average ticket size up 2.1% year-over-year.

Following these results, Walmart raised its full-year net sales growth outlook to a range of 4.8% to 5.1%, compared to the prior forecast of 3.75% to 4.75%. It also updated its EPS guidance to $2.42 to $2.47, aligning with the consensus estimate of $2.45.

Analyst Upgrades Highlight Confidence in Post-Q3 Results

Baird analyst Peter Benedict maintained an Outperform rating while lifting the price target from $90 to $100.
Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating and increased the price target from $92 to $100.
Piper Sandler analyst Peter Keith kept an Overweight rating but raised the price target from $83 to $93.
BMO Capital analyst Kelly Bania continued with an Outperform rating and boosted the price target from $80 to $100.

Which Analyst has the best track record to show on WMT?

Analyst Mark Astrachan (STIFEL) currently has the highest performing score on WMT with 23/23 (100%) price target fulfillment ratio. His price targets carry an average of $4.87 (7.15%) potential upside. Walmart stock price reaches these price targets on average within 160 days.

BellRing Brands Reports Strong Q4 and FY 2024 Results, Projects Sales Growth for FY 2025

BellRing Brands announced its financial results for its fourth fiscal quarter and the full year ended September 30, 2024 with net sales that rose by 17.6% year-over-year to $555.8 million, driven by an 18.9% increase in volume. Also reported a 32.1% increase in gross profit, reaching $205.1 million, representing 36.9% of net sales, up from 32.9% in the prior year.

Operating profit for the quarter grew 43.5% to $112.1 million, while net earnings rose 55.5% to $71.7 million, translating to $0.55 per diluted share. Adjusted EBITDA increased by 18.3% to $116.5 million, reflecting strong operational efficiency.

For the fiscal year 2024, BellRing achieved net sales of $1.996 billion, a 19.8% increase compared to 2023, supported by a 24.1% growth in volume. Gross profit surged 33.4% to $707.3 million, with an operating profit of $387.7 million, up 34.9% from the previous year. Fiscal net earnings reached $246.5 million, a 48.9% increase, or $1.86 per diluted share. BellRing generated $199.6 million in cash from operations and repurchased 2.6 million shares for $146.6 million during the fiscal year.

For FY2025, BellRing projects net sales between $2.24 billion and $2.32 billion and Adjusted EBITDA in the range of $460 million to $490 million, anticipating continued momentum in its Premier Protein and Dymatize brands.

Analysts Price Targets Raised After Q4 and FY 2024 Results

Stifel analyst Matthew Smith maintained a Buy rating and raised the price target from $67 to $81.
Deutsche Bank analyst Steve Powers maintained a Buy rating with an increased price target from $73 to $77.
BofA Securities analyst Bryan Spillane maintained a Buy rating and raised the price target from $75 to $82.
DA Davidson analyst Brian Holland kept a Neutral rating with a price target of $75.

Which Analyst has the best track record to show on BRBR?

Analyst David Palmer (EVERCORE) currently has the highest performing score on BRBR with 6/6 (100%) price target fulfillment ratio. His price targets carry an average of $4.93 (7.58%) potential upside. BellRing Brand stock price reaches these price targets on average within 94 days.