Symbotic Inc. (NASDAQ:SYM) Receives $39.86 Average Target Price from Analysts

Shares of Symbotic Inc. (NASDAQ:SYM) have received a consensus rating of “Moderate Buy” from the sixteen research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $38.73.

Several analysts have recently commented on SYM shares. DA Davidson raised shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Wednesday, January 8th. UBS Group decreased their price objective on Symbotic from $40.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Citigroup restated a “buy” rating and set a $37.00 target price on shares of Symbotic in a research report on Monday, January 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $60.00 price target on shares of Symbotic in a report on Tuesday, November 19th. Finally, Northland Securities boosted their price objective on Symbotic from $35.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday.

Symbotic Stock Performance

Symbotic stock opened at $29.76 on Wednesday. Symbotic has a 52 week low of $17.11 and a 52 week high of $52.20. The firm has a market cap of $17.48 billion, a P/E ratio of -496.00 and a beta of 1.76. The business’s fifty day moving average is $27.96 and its two-hundred day moving average is $27.55.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings results on Monday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. The business had revenue of $576.77 million for the quarter, compared to the consensus estimate of $470.24 million. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. The firm’s quarterly revenue was up 47.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.08) EPS. On average, equities research analysts predict that Symbotic will post 0.12 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Michael David Dunn sold 1,715 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $28.77, for a total transaction of $49,340.55. Following the sale, the insider now owns 87,922 shares of the company’s stock, valued at approximately $2,529,515.94. This trade represents a 1.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Carol J. Hibbard sold 22,821 shares of Symbotic stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total value of $660,896.16. Following the transaction, the chief financial officer now owns 34,188 shares in the company, valued at approximately $990,084.48. This represents a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,844 shares of company stock valued at $3,268,431 in the last 90 days. 38.30% of the stock is owned by insiders.

Institutional Trading of Symbotic

Large investors have recently bought and sold shares of the business. Castleview Partners LLC lifted its stake in Symbotic by 50.0% in the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after buying an additional 500 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in Symbotic in the 3rd quarter valued at $49,000. RiverPark Advisors LLC boosted its stake in Symbotic by 147.1% in the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after purchasing an additional 1,211 shares during the period. Quest Partners LLC increased its holdings in Symbotic by 19,307.7% during the 3rd quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock worth $62,000 after purchasing an additional 2,510 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Symbotic in the 2nd quarter valued at about $65,000.

About Symbotic

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.