Symbotic Inc. (SYM) shares are up 3.50% to $38.78 as of 9:51 am on November 26th, following a positive mention by Jim Cramer on CNBC's "Mad Money Lightning Round." Cramer recommended buying Symbotic, highlighting the company's profitability and its position in a "very hot sector." This endorsement comes on the heels of Symbotic's recent earnings report, which showed quarterly earnings of five cents per share, surpassing the analyst consensus estimate of three cents. Additionally, the company's quarterly revenue of $576.76 million exceeded expectations and marked a significant increase from $391.88 million in the same period last year.
Furthermore, TD Cowen raised its price target for Symbotic by $7, which likely contributed to the stock's upward movement.