Symbotic Inc. (NASDAQ:SYM) Stock Has Average Price Target of $65.45

by · The Markets Daily

Symbotic Inc. (NASDAQ:SYM – Get Free Report) has earned a consensus rating of “Hold” from the fourteen brokerages that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $65.45.

A number of analysts have weighed in on SYM shares. Needham & Company LLC decreased their target price on shares of Symbotic from C$75.00 to C$60.00 and set a “buy” rating for the company in a research report on Tuesday, September 15th. Barclays dropped their price target on shares of Symbotic from $44.00 to $38.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 8th. Weiss Ratings raised shares of Symbotic from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, September 21st. Zacks Research upgraded shares of Symbotic from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th. Finally, Robert W. Baird set a $51.00 target price on shares of Symbotic in a research note on Thursday, August 6th.

Check Out Our Latest Research Report on Symbotic

Symbotic Stock Performance

NASDAQ SYM opened at $43.28 on Friday. The firm has a market capitalization of $26.18 billion, a PE ratio of 480.89, a price-to-earnings-growth ratio of 4.81 and a beta of 1.97. The business’s 50-day moving average price is $42.16 and its two-hundred day moving average price is $46.69. Symbotic has a 12 month low of $37.68 and a 12 month high of $87.88.

Symbotic (NASDAQ:SYM – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The company had revenue of $720.84 million for the quarter, compared to the consensus estimate of $715.03 million. Symbotic had a return on equity of 1.40% and a net margin of 0.48%.Symbotic’s revenue was up 21.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.05) earnings per share. As a group, analysts forecast that Symbotic will post 0.21 earnings per share for the current fiscal year.

Insider Activity

In other Symbotic news, Director Charles Kane sold 2,000 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $39.00, for a total transaction of $78,000.00. Following the completion of the sale, the director directly owned 89,852 shares in the company, valued at approximately $3,504,228. This trade represents a 2.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO James Kuffner sold 3,952 shares of Symbotic stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $40.59, for a total value of $160,411.68. Following the completion of the transaction, the chief technology officer directly owned 219,858 shares of the company’s stock, valued at approximately $8,924,036.22. This trade represents a 1.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 78,970 shares of company stock worth $3,225,346. 8.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Symbotic

A number of hedge funds have recently added to or reduced their stakes in SYM. USS Investment Management Ltd bought a new position in shares of Symbotic during the 1st quarter worth approximately $15,004,000. Abacus FCF Advisors LLC acquired a new stake in shares of Symbotic during the 2nd quarter worth approximately $3,109,000. Engineers Gate Manager LP increased its stake in shares of Symbotic by 469.6% in the 2nd quarter. Engineers Gate Manager LP now owns 56,930 shares of the company’s stock valued at $2,559,000 after acquiring an additional 46,936 shares in the last quarter. Peregrine Asset Advisers Inc. bought a new stake in shares of Symbotic in the 1st quarter valued at $2,379,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Symbotic by 15.6% during the 4th quarter. BNP Paribas Financial Markets now owns 330,320 shares of the company’s stock valued at $19,654,000 after acquiring an additional 44,690 shares during the period.

About Symbotic

(Get Free Report)

Symbotic Inc is a technology company that develops automation systems for warehouse and supply-chain operations. Its platform combines artificial intelligence, robotics, software and high-speed material-handling equipment to automate the movement, storage and retrieval of goods within large distribution centers.

The company’s solutions are designed to manage products from inbound receiving and pallet depalletizing through storage, replenishment, order assembly and outbound shipping. Symbotic’s systems use autonomous robots and software to organize inventory and build store-ready orders, helping retailers and other supply-chain operators improve warehouse utilization, throughput and operational consistency.

Symbotic primarily serves large retail and grocery distribution networks, with deployments concentrated in North America.

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