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

Key Points

• Analysts have a consensus “Hold” rating on Symbotic, with seven buys, five holds and two sells among 14 analysts. The average 12-month price target is $65.45, above the stock’s reported price of $43.17.
• Symbotic’s latest quarter showed 21.7% year-over-year revenue growth to $720.84 million, exceeding estimates, but adjusted EPS of $0.09 missed the $0.13 consensus forecast.
• Insiders sold 80,970 shares worth approximately $3.31 million over the past three months, while several institutional investors—including USS Investment Management and BNP Paribas—established or increased positions.

Shares of Symbotic Inc. (NASDAQ:SYM - Get Free Report) have received a consensus recommendation of "Hold" from the fourteen analysts that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $65.45.

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

Insider Buying and Selling

In related news, Director Charles Kane sold 2,000 shares of the company's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $39.00, for a total value 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 represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Todd Krasnow sold 2,000 shares of the company's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $43.57, for a total value of $87,140.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 80,970 shares of company stock valued at $3,313,186. 8.16% of the stock is owned by company insiders.

Institutional Trading of Symbotic

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. USS Investment Management Ltd bought a new stake in shares of Symbotic in the first quarter worth $15,004,000. Abacus FCF Advisors LLC acquired a new stake in Symbotic in the second quarter valued at $3,109,000. Engineers Gate Manager LP raised its position in Symbotic by 469.6% during the 2nd quarter. Engineers Gate Manager LP now owns 56,930 shares of the company's stock worth $2,559,000 after purchasing an additional 46,936 shares during the last quarter. Peregrine Asset Advisers Inc. bought a new position in Symbotic during the 1st quarter worth $2,379,000. Finally, BNP Paribas Financial Markets lifted its holdings in Symbotic by 15.6% during the 4th quarter. BNP Paribas Financial Markets now owns 330,320 shares of the company's stock worth $19,654,000 after buying an additional 44,690 shares during the period.

Symbotic Stock Up 2.6%

Shares of Symbotic stock opened at $43.17 on Friday. The stock's fifty day moving average is $42.10 and its 200-day moving average is $46.74. The firm has a market capitalization of $26.11 billion, a PE ratio of 479.67, a price-to-earnings-growth ratio of 6.68 and a beta of 1.97. Symbotic has a 12-month low of $37.68 and a 12-month high of $87.88.

Symbotic (NASDAQ:SYM - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). The firm had revenue of $720.84 million during the quarter, compared to analyst estimates of $715.03 million. Symbotic had a return on equity of 1.40% and a net margin of 0.48%.The business's quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.05) earnings per share. Analysts expect that Symbotic will post 0.21 EPS for the current year.

Symbotic Company Profile

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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