Symbotic Inc. (NASDAQ:SYM) Receives $43.23 Consensus Price Target from Analysts

Shares of Symbotic Inc. (NASDAQ:SYM) have been given an average rating of “Moderate Buy” by the fourteen analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $43.23.

A number of equities analysts have recently issued reports on SYM shares. TD Cowen cut their price objective on Symbotic from $55.00 to $43.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. BWS Financial restated a “sell” rating and set a $10.00 target price on shares of Symbotic in a report on Tuesday, July 30th. Northland Securities dropped their target price on Symbotic from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Cantor Fitzgerald restated an “overweight” rating and set a $60.00 target price on shares of Symbotic in a report on Tuesday, July 30th. Finally, Robert W. Baird dropped their price objective on Symbotic from $53.00 to $41.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st.

Symbotic Stock Performance

NASDAQ:SYM opened at $22.41 on Thursday. Symbotic has a 52-week low of $17.11 and a 52-week high of $59.82. The firm has a market cap of $13.10 billion, a price-to-earnings ratio of -93.38 and a beta of 1.81. The business’s fifty day moving average is $26.63 and its 200 day moving average is $36.01.

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

Insider Buying and Selling at Symbotic

In related news, insider William M. Boyd III sold 8,826 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $38.71, for a total value of $341,654.46. Following the sale, the insider now directly owns 23,012 shares in the company, valued at $890,794.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Michael David Dunn sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $40.00, for a total transaction of $80,000.00. Following the transaction, the insider now owns 74,808 shares of the company’s stock, valued at $2,992,320. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider William M. Boyd III sold 8,826 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $38.71, for a total value of $341,654.46. Following the transaction, the insider now directly owns 23,012 shares in the company, valued at approximately $890,794.52. 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 over the last ninety days. 38.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Symbotic by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock valued at $109,189,000 after purchasing an additional 345,386 shares during the last quarter. Blair William & Co. IL raised its stake in Symbotic by 418.1% in the 1st quarter. Blair William & Co. IL now owns 33,365 shares of the company’s stock worth $1,501,000 after acquiring an additional 26,925 shares during the last quarter. Quadrature Capital Ltd purchased a new position in Symbotic in the 4th quarter worth $1,669,000. Comerica Bank raised its stake in Symbotic by 1,347.0% in the 1st quarter. Comerica Bank now owns 16,641 shares of the company’s stock worth $749,000 after acquiring an additional 15,491 shares during the last quarter. Finally, Seven Eight Capital LP purchased a new position in Symbotic in the 4th quarter worth $2,568,000.

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.