Symbotic (NASDAQ:SYM) Given New $28.00 Price Target at The Goldman Sachs Group

Symbotic (NASDAQ:SYM) had its price objective lowered by equities researchers at The Goldman Sachs Group from $34.00 to $28.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 0.32% from the stock’s current price.

SYM has been the topic of several other research reports. Craig Hallum lowered shares of Symbotic from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a report on Wednesday, November 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a research report on Tuesday, November 19th. Northland Securities lifted their target price on shares of Symbotic from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. BWS Financial reiterated a “sell” rating and issued a $10.00 price objective on shares of Symbotic in a report on Tuesday, November 19th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Symbotic in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.54.

Symbotic Stock Up 6.8 %

Shares of NASDAQ SYM opened at $27.91 on Wednesday. The company has a market capitalization of $16.34 billion, a PE ratio of -465.17 and a beta of 1.73. Symbotic has a twelve month low of $17.11 and a twelve month high of $58.58. The stock’s 50 day moving average price is $29.17 and its 200-day moving average price is $30.08.

Symbotic (NASDAQ:SYM) last posted its earnings results on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. Symbotic had a positive return on equity of 6.54% and a negative net margin of 0.32%. The business had revenue of $576.77 million during the quarter, compared to analyst estimates of $470.24 million. During the same quarter in the previous year, the firm earned ($0.08) EPS. The company’s quarterly revenue was up 47.2% compared to the same quarter last year. As a group, research analysts expect that Symbotic will post 0.14 EPS for the current fiscal year.

Insider Activity at Symbotic

In other news, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $28.15, for a total value of $56,300.00. Following the completion of the transaction, the director now owns 214,036 shares of the company’s stock, valued at $6,025,113.40. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Carol J. Hibbard sold 22,821 shares of Symbotic stock in a transaction dated 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 directly owns 34,188 shares in the company, valued at $990,084.48. This represents a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,878 shares of company stock worth $1,340,556. Company insiders own 38.30% of the company’s stock.

Institutional Investors Weigh In On Symbotic

Hedge funds have recently bought and sold shares of the business. Castleview Partners LLC boosted its position in shares of Symbotic by 50.0% during the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after purchasing an additional 500 shares in the last quarter. RFP Financial Group LLC increased its position in Symbotic by 22.4% during the second quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock worth $59,000 after acquiring an additional 310 shares during the period. Quarry LP acquired a new position in shares of Symbotic in the 2nd quarter valued at $65,000. Arcadia Investment Management Corp MI acquired a new position in shares of Symbotic in the 3rd quarter worth approximately $49,000. Finally, RiverPark Advisors LLC boosted its stake in shares of 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 purchasing an additional 1,211 shares during the last quarter.

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.