Symbotic Inc. (NASDAQ:SYM) Receives $65.23 Average Price Target from Analysts

Symbotic Inc. (NASDAQ:SYM) has been assigned a consensus rating of “Hold” from the sixteen ratings firms that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $65.2308.

SYM has been the topic of several recent analyst reports. DA Davidson reaffirmed a “buy” rating and set a $70.00 price target on shares of Symbotic in a research report on Monday, May 11th. Zacks Research downgraded Symbotic from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. The Goldman Sachs Group decreased their target price on shares of Symbotic from $54.00 to $45.00 and set a “sell” rating for the company in a research note on Tuesday, May 26th. Finally, Weiss Ratings downgraded shares of Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th.

Insider Activity

In other news, CTO James Kuffner sold 3,878 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $53.51, for a total transaction of $207,511.78. Following the transaction, the chief technology officer directly owned 185,126 shares in the company, valued at $9,906,092.26. The trade was a 2.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider William M. Boyd III sold 5,115 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $45.15, for a total transaction of $230,942.25. Following the completion of the sale, the insider directly owned 57,112 shares in the company, valued at approximately $2,578,606.80. The trade was a 8.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 87,874 shares of company stock worth $4,630,155. 8.16% of the stock is owned by insiders.

Hedge Funds Weigh In On Symbotic

A number of hedge funds and other institutional investors have recently bought and sold shares of SYM. Royal Bank of Canada raised its stake in Symbotic by 28.8% in the first quarter. Royal Bank of Canada now owns 84,856 shares of the company’s stock valued at $1,714,000 after buying an additional 18,967 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Symbotic by 15.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 84,899 shares of the company’s stock worth $1,716,000 after acquiring an additional 11,098 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Symbotic during the 2nd quarter worth approximately $804,000. Invesco Ltd. boosted its stake in shares of Symbotic by 33.2% during the 2nd quarter. Invesco Ltd. now owns 304,207 shares of the company’s stock worth $11,818,000 after acquiring an additional 75,828 shares during the period. Finally, Cresset Asset Management LLC acquired a new position in shares of Symbotic during the 2nd quarter worth approximately $267,000.

Symbotic News Roundup

Here are the key news stories impacting Symbotic this week:

• Positive Sentiment: Some analysts and commentary suggest Symbotic’s fundamentals remain strong, with expectations for a major earnings improvement ahead that could support a rebound if results meet or exceed forecasts.
• Positive Sentiment: There is also speculation that the company’s next earnings report could spark a short squeeze if short sellers are forced to cover amid better-than-expected results.
• Neutral Sentiment: Investor attention has increased around SYM, which can signal rising interest ahead of a catalyst, but it does not by itself indicate a fundamental change in the business.
• Neutral Sentiment: Recent articles compare Symbotic with other value-oriented stocks, reinforcing that investors are still debating valuation rather than reacting to a major new company announcement.
• Negative Sentiment: The stock has been weak recently, with articles noting a sizable decline over the past 90 days and year to date, reflecting ongoing investor concern about execution and valuation. Symbotic Inc. (SYM) Suffers a Larger Drop Than the General Market: Key Insights
• Negative Sentiment: The latest trading session also showed SYM dropping more than the broader market, keeping pressure on the shares even as investors look ahead to earnings. Symbotic Inc. (SYM) Suffers a Larger Drop Than the General Market: Key Insights

Symbotic Price Performance

Shares of NASDAQ SYM opened at $40.57 on Friday. The stock has a market capitalization of $24.45 billion, a price-to-earnings ratio of -811.24, a PEG ratio of 6.26 and a beta of 1.93. The business has a 50-day moving average of $44.34 and a 200-day moving average of $52.58. Symbotic has a fifty-two week low of $38.19 and a fifty-two week high of $87.88.

Symbotic (NASDAQ:SYM) last released its earnings results on Wednesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.11). Symbotic had a negative return on equity of 0.68% and a negative net margin of 0.20%.The company had revenue of $676.48 million for the quarter, compared to the consensus estimate of $662.65 million. During the same quarter in the previous year, the company posted ($0.04) EPS. The business’s revenue was up 23.1% on a year-over-year basis. On average, sell-side analysts expect that Symbotic will post 0.23 EPS for the current year.

Symbotic Company Profile

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.