Symbotic Inc. (NASDAQ:SYM) Given Average Rating of "Hold" by Brokerages

Key Points

• Analysts have a consensus “Hold” rating on Symbotic, with seven buys, four holds and four sells among 15 firms. The average 12-month price target is $65.92, though targets range from $45 to $75.
• Symbotic reported quarterly revenue of $720.84 million, up 21.7% year over year and above estimates, but earnings per share of $0.09 missed the $0.13 consensus forecast.
• Shares opened at $41.19, near the bottom of their 52-week range, while insiders sold 118,011 shares worth approximately $5.3 million over the past 90 days.

Shares of Symbotic Inc. (NASDAQ:SYM - Get Free Report) have received a consensus rating of "Hold" from the fifteen ratings firms that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $65.9167.

SYM has been the topic of a number of recent analyst reports. Robert W. Baird set a $51.00 target price on Symbotic in a research report on Thursday, August 6th. Zacks Research upgraded shares of Symbotic from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 5th. DA Davidson reiterated a "buy" rating and set a $70.00 price objective on shares of Symbotic in a research report on Monday, May 11th. The Goldman Sachs Group dropped their price objective on shares of Symbotic from $54.00 to $45.00 and set a "sell" rating for the company in a research note on Tuesday, May 26th. Finally, Needham & Company LLC restated a "buy" rating and issued a $75.00 target price on shares of Symbotic in a research report on Thursday, August 6th.

Insider Activity at Symbotic

In related news, insider William M. Boyd III sold 9,194 shares of the firm's stock in a transaction on Monday, July 27th. The stock was sold at an average price of $41.04, for a total transaction of $377,321.76. Following the sale, the insider owned 57,112 shares of the company's stock, valued at $2,343,876.48. This trade represents a 13.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Brian Daniel Alexander sold 9,130 shares of the business's stock in a transaction on Friday, July 24th. The stock was sold at an average price of $40.30, for a total value of $367,939.00. Following the sale, the senior vice president owned 55,611 shares in the company, valued at $2,241,123.30. This represents a 14.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 118,011 shares of company stock valued at $5,293,942. 8.16% of the stock is owned by company insiders.

Hedge Funds Weigh In On Symbotic

Several large investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust grew its holdings in shares of 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 purchasing an additional 268 shares during the last quarter. Quarry LP acquired a new stake in Symbotic during the 4th quarter worth approximately $36,000. Parallel Advisors LLC boosted its position in Symbotic by 67.3% during the 4th quarter. Parallel Advisors LLC now owns 619 shares of the company's stock worth $37,000 after buying an additional 249 shares during the period. Gordian Capital Singapore Pte Ltd bought a new stake in Symbotic during the 4th quarter worth approximately $48,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Symbotic during the 4th quarter worth approximately $55,000.

Symbotic Stock Performance

Shares of SYM stock opened at $41.19 on Thursday. Symbotic has a fifty-two week low of $38.19 and a fifty-two week high of $87.88. The stock's fifty day moving average price is $42.27 and its two-hundred day moving average price is $50.05. The company has a market cap of $24.83 billion, a PE ratio of 457.67, a P/E/G ratio of 6.15 and a beta of 1.94.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.04). Symbotic had a return on equity of 1.40% and a net margin of 0.48%.The business had revenue of $720.84 million for the quarter, compared to analyst estimates of $715.03 million. During the same period last year, the firm posted ($0.05) EPS. Symbotic's quarterly revenue was up 21.7% on a year-over-year basis. On average, equities analysts predict that Symbotic will post 0.23 EPS for the current fiscal year.

About Symbotic

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.

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