Symbotic (NASDAQ:SYM) Price Target Raised to $50.00 at TD Cowen

Symbotic (NASDAQ:SYM) had its target price lifted by TD Cowen from $43.00 to $50.00 in a research report report published on Tuesday morning,Benzinga reports. TD Cowen currently has a buy rating on the stock.

SYM has been the subject of a number of other research reports. Needham & Company LLC lifted their price target on Symbotic from $40.00 to $46.00 and gave the company a “buy” rating 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 company an “outperform” rating in a research report on Tuesday, November 19th. KeyCorp boosted their price target on shares of Symbotic from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Robert W. Baird lowered their price objective on shares of Symbotic from $53.00 to $41.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Finally, BWS Financial reaffirmed a “sell” rating and set a $10.00 price objective on shares of Symbotic in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Symbotic currently has an average rating of “Moderate Buy” and a consensus price target of $44.85.

Symbotic Trading Down 0.2 %

Symbotic stock opened at $37.41 on Tuesday. The firm has a 50 day simple moving average of $28.98 and a 200 day simple moving average of $30.82. Symbotic has a 1-year low of $17.11 and a 1-year high of $59.82. The firm has a market capitalization of $21.91 billion, a price-to-earnings ratio of -623.50 and a beta of 1.81.

Symbotic (NASDAQ:SYM) last issued its earnings results on Monday, November 18th. The company reported $0.05 EPS for the quarter, hitting the consensus estimate 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 the consensus estimate of $470.24 million. During the same quarter last year, the company earned ($0.08) EPS. The firm’s revenue was up 47.2% compared to the same quarter last year. On average, equities research analysts forecast that Symbotic will post 0.36 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Carol J. Hibbard sold 22,821 shares of Symbotic stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total transaction of $660,896.16. Following the sale, the chief financial officer now directly owns 34,188 shares in the company, valued at $990,084.48. The trade was a 40.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Todd Krasnow sold 2,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.75, for a total value of $37,500.00. Following the completion of the transaction, the director now owns 214,036 shares of the company’s stock, valued at approximately $4,013,175. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,878 shares of company stock worth $1,378,056. 38.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Castleview Partners LLC boosted its stake in Symbotic by 50.0% in the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after purchasing an additional 500 shares in the last quarter. RFP Financial Group LLC lifted its stake in shares of Symbotic by 22.4% in the second quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock worth $59,000 after buying an additional 310 shares in the last quarter. Quarry LP bought a new position in shares of Symbotic in the second quarter worth approximately $65,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Symbotic during the third quarter valued at approximately $49,000. Finally, RiverPark Advisors LLC increased its position in shares of Symbotic by 147.1% during the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock valued at $50,000 after acquiring an additional 1,211 shares in the last quarter.

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.