Symbotic Inc. (NASDAQ:SYM) Receives Average Recommendation of “Moderate Buy” from Analysts

Symbotic Inc. (NASDAQ:SYMGet Free Report) has received an average recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $44.31.

A number of research analysts have recently issued reports on the company. DA Davidson reaffirmed a “buy” rating and set a $47.00 price objective on shares of Symbotic in a research note on Tuesday, November 19th. BWS Financial reiterated a “sell” rating and set a $10.00 target price on shares of Symbotic in a report on Tuesday, November 19th. Northland Securities increased their price target on shares of Symbotic from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $60.00 price objective on shares of Symbotic in a research report on Tuesday, November 19th. Finally, The Goldman Sachs Group decreased their target price on shares of Symbotic from $40.00 to $30.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st.

Check Out Our Latest Research Report on SYM

Symbotic Price Performance

Shares of SYM opened at $37.47 on Tuesday. Symbotic has a 1-year low of $17.11 and a 1-year high of $59.82. The company has a market capitalization of $21.94 billion, a P/E ratio of -624.50 and a beta of 1.81. The firm’s 50 day simple moving average is $28.73 and its 200 day simple moving average is $30.85.

Symbotic (NASDAQ:SYMGet Free Report) last released its earnings results on Monday, November 18th. The company reported $0.05 EPS 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 for the quarter, compared to analysts’ expectations of $470.24 million. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. The firm’s revenue was up 47.2% on a year-over-year basis. On average, equities analysts anticipate that Symbotic will post 0.36 earnings per share for the current year.

Insider Buying and Selling

In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $28.15, for a total transaction of $56,300.00. Following the transaction, the director now owns 214,036 shares in the company, 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 legal filing with the SEC, which is available at this link. Also, CFO Carol J. Hibbard sold 22,821 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $28.96, for a total transaction of $660,896.16. Following the transaction, the chief financial officer now 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 49,878 shares of company stock worth $1,378,056. Corporate insiders own 38.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC purchased a new position in Symbotic during the 3rd quarter worth $1,029,000. Barclays PLC boosted its stake in shares of Symbotic by 1,105.9% during the third quarter. Barclays PLC now owns 9,346 shares of the company’s stock valued at $228,000 after purchasing an additional 8,571 shares in the last quarter. TCW Group Inc. increased its holdings in Symbotic by 0.8% during the third quarter. TCW Group Inc. now owns 384,274 shares of the company’s stock valued at $9,372,000 after buying an additional 3,075 shares during the period. Sunbelt Securities Inc. raised its stake in Symbotic by 161.6% in the third quarter. Sunbelt Securities Inc. now owns 13,330 shares of the company’s stock worth $325,000 after buying an additional 8,235 shares in the last quarter. Finally, First Dallas Securities Inc. lifted its holdings in Symbotic by 61.2% during the third quarter. First Dallas Securities Inc. now owns 32,400 shares of the company’s stock worth $790,000 after buying an additional 12,300 shares during the period.

Symbotic Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Symbotic (NASDAQ:SYM)

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