Symbotic stock drops in premarket after Q1 outlook — $22.3B backlog and margins in focus
Symbotic shares fell about 5% to $53.48 in premarket trading after posting $630 million in quarterly revenue and forecasting $650 million to $670 million for the next quarter. The company reported a $13 million profit, up from a $17 million loss a year ago. Needham raised its price target to $75. Investors remain cautious amid project timing swings and concentrated client exposure.