Symbotic Inc. (NASDAQ:SYM) Receives $43.23 Consensus PT from Brokerages

Symbotic Inc. (NASDAQ:SYM) has received an average recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $43.23.

SYM has been the topic of several research analyst reports. BWS Financial reiterated a “sell” rating and set a $10.00 price objective on shares of Symbotic in a research report on Tuesday, July 30th. Citigroup lowered their price target on Symbotic from $62.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Vertical Research assumed coverage on Symbotic in a research report on Tuesday, July 23rd. They set a “hold” rating and a $45.00 price target on the stock. The Goldman Sachs Group decreased their price objective on Symbotic from $40.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Finally, Craig Hallum lowered their target price on Symbotic from $54.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th.

Insiders Place Their Bets

In related news, insider Michael David Dunn sold 5,188 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $35.49, for a total transaction of $184,122.12. Following the transaction, the insider now owns 76,808 shares of the company’s stock, valued at $2,725,915.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 214,036 shares in the company, valued at approximately $4,013,175. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael David Dunn sold 5,188 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $35.49, for a total value of $184,122.12. Following the completion of the transaction, the insider now directly owns 76,808 shares of the company’s stock, valued at $2,725,915.92. The disclosure for this sale can be found here. Insiders have sold a total of 38,909 shares of company stock valued at $1,148,358 in the last three months. Company insiders own 38.30% of the company’s stock.

Institutional Trading of Symbotic

Institutional investors have recently made changes to their positions in the business. Baillie Gifford & Co. acquired a new stake in Symbotic during the first quarter valued at approximately $426,752,000. 1832 Asset Management L.P. lifted its holdings in shares of Symbotic by 189.5% during the fourth quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company’s stock valued at $54,174,000 after acquiring an additional 690,900 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of Symbotic by 191.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock worth $27,281,000 after purchasing an additional 509,700 shares during the last quarter. Vanguard Group Inc. grew its stake in Symbotic by 16.6% during the first quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock worth $109,189,000 after buying an additional 345,386 shares during the last quarter. Finally, Zevenbergen Capital Investments LLC increased its holdings in shares of Symbotic by 1,826.2% during the first quarter. Zevenbergen Capital Investments LLC now owns 361,167 shares of the company’s stock worth $16,253,000 after buying an additional 342,417 shares in the last quarter.

Symbotic Stock Up 0.1 %

Shares of NASDAQ SYM opened at $24.98 on Thursday. Symbotic has a 12 month low of $17.11 and a 12 month high of $59.82. The company has a market cap of $14.60 billion, a price-to-earnings ratio of -104.08 and a beta of 1.81. The business has a fifty day simple moving average of $26.14 and a 200-day simple moving average of $35.83.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Monday, July 29th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The firm had revenue of $491.86 million for the quarter, compared to analysts’ expectations of $464.56 million. Symbotic had a negative net margin of 1.03% and a positive return on equity of 4.08%. Symbotic’s quarterly revenue was up 57.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.07) earnings per share. As a group, sell-side analysts expect that Symbotic will post -0.08 EPS for the current fiscal year.

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.