Analysts Set Symbotic Inc. (NASDAQ:SYM) Target Price at $44.31

Symbotic Inc. (NASDAQ:SYM) has been given a consensus recommendation of “Moderate Buy” by the fourteen analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $42.69.

Several research analysts recently issued reports on SYM shares. Craig Hallum lowered Symbotic from a “buy” rating to a “hold” rating and set a $25.00 target price for the company. in a research report on Wednesday. DA Davidson downgraded Symbotic from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $50.00 to $35.00 in a research report on Wednesday. BWS Financial reiterated a “sell” rating and issued a $10.00 target price on shares of Symbotic in a report on Tuesday, November 19th. KeyCorp restated a “sector weight” rating on shares of Symbotic in a report on Wednesday. Finally, TD Cowen upped their price objective on shares of Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday.

Insider Activity

In other news, insider William M. Boyd III sold 8,826 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $28.33, for a total transaction of $250,040.58. Following the completion of the sale, the insider now owns 23,012 shares in the company, valued at $651,929.96. This trade represents a 27.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Carol J. Hibbard sold 22,821 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $28.96, for a total value of $660,896.16. Following the completion of the transaction, the chief financial officer now owns 34,188 shares in the company, valued at approximately $990,084.48. The trade was a 40.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,878 shares of company stock worth $1,378,056 over the last 90 days. 38.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Castleview Partners LLC raised its stake in Symbotic by 50.0% in the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after acquiring an additional 500 shares during the period. RFP Financial Group LLC lifted its stake in shares of Symbotic by 22.4% during the 2nd quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock valued at $59,000 after buying an additional 310 shares in the last quarter. Quarry LP bought a new position in Symbotic in the 2nd quarter worth approximately $65,000. Arcadia Investment Management Corp MI bought a new position in Symbotic in the 3rd quarter worth approximately $49,000. Finally, RiverPark Advisors LLC grew its stake in Symbotic by 147.1% in the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock valued at $50,000 after buying an additional 1,211 shares in the last quarter.

Symbotic Trading Down 35.8 %

NASDAQ:SYM opened at $24.00 on Tuesday. The stock’s 50-day moving average is $28.94 and its 200-day moving average is $30.72. Symbotic has a 1-year low of $17.11 and a 1-year high of $59.82. The stock has a market cap of $14.05 billion, a P/E ratio of -400.00 and a beta of 1.81.

Symbotic (NASDAQ:SYM) last posted its earnings results on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05. The firm had revenue of $576.77 million for the quarter, compared to analyst estimates of $470.24 million. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.54%. The company’s revenue for the quarter was up 47.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) EPS. As a group, equities analysts forecast that Symbotic will post 0.2 EPS for the current year.

Symbotic Company Profile

Symbotic Inc, an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. The company automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Its systems enhance operations at the front end of the supply chain.