The Goldman Sachs Group Issues Pessimistic Forecast for Symbotic (NASDAQ:SYM) Stock Price

Symbotic (NASDAQ:SYM) had its price target cut by equities research analysts at The Goldman Sachs Group from $28.00 to $25.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential downside of 6.48% from the stock’s previous close.

Several other research firms have also recently commented on SYM. Citigroup reiterated a “buy” rating and issued a $37.00 price target on shares of Symbotic in a research note on Monday, January 13th. Craig Hallum cut Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a research note on Wednesday, November 27th. UBS Group cut their price target on Symbotic from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Needham & Company LLC restated a “buy” rating and set a $35.00 price objective on shares of Symbotic in a research note on Friday, January 17th. Finally, William Blair reaffirmed a “market perform” rating on shares of Symbotic in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $38.33.

Symbotic Trading Down 13.5 %

Shares of SYM traded down $4.19 during midday trading on Thursday, reaching $26.73. 4,717,171 shares of the company were exchanged, compared to its average volume of 2,566,918. The stock has a 50-day moving average price of $27.11 and a 200-day moving average price of $26.82. The company has a market cap of $15.70 billion, a price-to-earnings ratio of -444.62, a P/E/G ratio of 7.29 and a beta of 1.79. Symbotic has a 1-year low of $17.11 and a 1-year high of $50.40.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Wednesday, February 5th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. Equities research analysts anticipate that Symbotic will post 0.13 earnings per share for the current year.

Insider Transactions at Symbotic

In related news, insider Michael David Dunn sold 63,867 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $30.08, for a total value of $1,921,119.36. Following the sale, the insider now directly owns 24,055 shares in the company, valued at $723,574.40. This trade represents a 72.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Carol J. Hibbard sold 4,055 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $30.70, for a total value of $124,488.50. Following the completion of the sale, the chief financial officer now owns 44,386 shares in the company, valued at approximately $1,362,650.20. This represents a 8.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 94,007 shares of company stock worth $2,827,909. 0.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Symbotic

Hedge funds have recently modified their holdings of the company. IFP Advisors Inc boosted its stake in shares of Symbotic by 58.2% during the 4th quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock worth $32,000 after acquiring an additional 503 shares in the last quarter. Castleview Partners LLC boosted its stake in shares of Symbotic by 50.0% during the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after acquiring an additional 500 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Symbotic during the 3rd quarter worth $49,000. Private Trust Co. NA bought a new stake in shares of Symbotic during the 4th quarter worth $47,000. Finally, RiverPark Advisors LLC boosted its stake in shares of Symbotic by 147.1% during the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after acquiring an additional 1,211 shares in the last quarter.

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.