Brokerages Set Symbotic Inc. (NASDAQ:SYM) PT at $65.23

Shares of Symbotic Inc. (NASDAQ:SYM) have been given a consensus recommendation of “Hold” by the sixteen research firms that are presently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $65.2308.

Several equities analysts have weighed in on SYM shares. Zacks Research lowered Symbotic from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Weiss Ratings cut Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. DA Davidson reaffirmed a “buy” rating and issued a $70.00 price target on shares of Symbotic in a research note on Monday, May 11th. Finally, The Goldman Sachs Group cut their price target on shares of Symbotic from $54.00 to $45.00 and set a “sell” rating on the stock in a research report on Tuesday, May 26th.

Insider Activity

In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $43.92, for a total value of $87,840.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William M. Boyd III sold 5,115 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $45.15, for a total transaction of $230,942.25. Following the completion of the sale, the insider owned 57,112 shares in the company, valued at approximately $2,578,606.80. This trade represents a 8.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 147,798 shares of company stock worth $8,221,095 over the last three months. Company insiders own 8.16% of the company’s stock.

Institutional Trading of Symbotic

Several hedge funds have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust lifted its holdings in Symbotic by 100.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock worth $32,000 after acquiring an additional 268 shares in the last quarter. Quarry LP bought a new stake in shares of Symbotic in the fourth quarter worth about $36,000. Parallel Advisors LLC increased its holdings in shares of Symbotic by 67.3% in the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock worth $37,000 after acquiring an additional 249 shares in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Symbotic during the fourth quarter worth about $48,000. Finally, NewEdge Advisors LLC raised its position in shares of Symbotic by 81.5% during the second quarter. NewEdge Advisors LLC now owns 1,276 shares of the company’s stock worth $50,000 after purchasing an additional 573 shares during the period.

Symbotic Stock Up 5.0%

SYM stock opened at $42.86 on Friday. The business’s fifty day moving average is $44.68 and its 200-day moving average is $52.87. The company has a market cap of $25.83 billion, a P/E ratio of -857.03, a price-to-earnings-growth ratio of 6.02 and a beta of 1.93. Symbotic has a twelve month low of $38.19 and a twelve month high of $87.88.

Symbotic (NASDAQ:SYM) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $662.65 million. During the same quarter in the prior year, the business earned ($0.04) earnings per share. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. Research analysts anticipate that Symbotic will post 0.23 earnings per share for the current fiscal 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.