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

Symbotic Inc. (NASDAQ:SYM) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $54.00.

A number of research analysts recently weighed in on SYM shares. Northland Securities raised their price target on shares of Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. William Blair reiterated a “market perform” rating on shares of Symbotic in a research report on Tuesday, February 6th. Needham & Company LLC decreased their price objective on Symbotic from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $60.00 target price on shares of Symbotic in a report on Tuesday, February 6th. Finally, Robert W. Baird reduced their target price on shares of Symbotic from $54.00 to $52.00 and set an “outperform” rating for the company in a research report on Tuesday, February 6th.

Symbotic Price Performance

SYM opened at $39.73 on Monday. The firm has a fifty day moving average price of $43.63 and a 200 day moving average price of $44.00. Symbotic has a 1 year low of $22.40 and a 1 year high of $64.14. The stock has a market cap of $22.93 billion, a P/E ratio of -147.15 and a beta of 1.91.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Monday, February 5th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. The firm had revenue of $368.45 million during the quarter, compared to analyst estimates of $370.28 million. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. Equities analysts expect that Symbotic will post -0.02 EPS for the current year.

Insider Transactions at Symbotic

In other Symbotic news, major shareholder David A. Ladensohn sold 2,085,296 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $39.69, for a total value of $82,765,398.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Symbotic news, Director Merline Saintil sold 3,135 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $44.74, for a total transaction of $140,259.90. Following the completion of the transaction, the director now owns 62,312 shares in the company, valued at approximately $2,787,838.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder David A. Ladensohn sold 2,085,296 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $39.69, for a total transaction of $82,765,398.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,188,628 shares of company stock valued at $279,026,777. 38.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp purchased a new position in shares of Symbotic in the 4th quarter valued at $26,000. National Bank of Canada FI boosted its stake in Symbotic by 66.7% in the third quarter. National Bank of Canada FI now owns 1,000 shares of the company’s stock valued at $35,000 after acquiring an additional 400 shares in the last quarter. Providence Capital Advisors LLC purchased a new position in shares of Symbotic during the third quarter worth about $33,000. Pingora Partners LLC acquired a new stake in shares of Symbotic during the fourth quarter worth about $51,000. Finally, Centerpoint Advisors LLC purchased a new stake in shares of Symbotic in the 4th quarter valued at about $62,000.

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.