Symbotic Inc. (NASDAQ:SYM) Receives $43.44 Consensus Price Target from Analysts

Key Points

• Symbotic Inc. has received a consensus analysts' rating of "Hold," with 2 sell ratings, 12 hold ratings, and 6 buy ratings, and an average one-year price target set at $43.44.
• The company's stock price recently opened at $47.73, showing a slight decline of 0.5%, and it has a market cap of approximately $28.18 billion.
• In its last quarterly earnings report, Symbotic missed EPS estimates, reporting ($0.05) against the consensus estimate of $0.03, despite a 25.9% year-over-year revenue increase to $592.12 million.

Symbotic Inc. (NASDAQ:SYM - Get Free Report) has been given an average rating of "Hold" by the twenty research firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $43.4375.

A number of equities research analysts have recently weighed in on SYM shares. Wall Street Zen lowered Symbotic from a "hold" rating to a "sell" rating in a research note on Saturday. Citigroup restated a "buy" rating on shares of Symbotic in a research note on Monday, July 14th. DA Davidson restated a "neutral" rating and set a $47.00 price target (up previously from $35.00) on shares of Symbotic in a research note on Monday, August 25th. Needham & Company LLC boosted their price target on Symbotic from $32.00 to $57.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, Oppenheimer boosted their price target on Symbotic from $54.00 to $59.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th.

Insider Buying and Selling at Symbotic

In related news, Director Rollin L. Ford sold 90,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $51.57, for a total value of $4,641,300.00. Following the transaction, the director owned 14,507 shares in the company, valued at approximately $748,125.99. This represents a 86.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Millennium Gst Non-Exempt Rbc sold 220,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $46.45, for a total transaction of $10,219,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 484,632 shares of company stock valued at $23,837,791. Insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On Symbotic

A number of institutional investors have recently bought and sold shares of SYM. GAMMA Investing LLC raised its position in Symbotic by 1,812.2% during the 1st quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock worth $29,000 after buying an additional 1,341 shares during the last quarter. Ulland Investment Advisors LLC purchased a new position in Symbotic during the 1st quarter worth approximately $31,000. AdvisorNet Financial Inc acquired a new position in Symbotic in the second quarter valued at approximately $32,000. IAG Wealth Partners LLC acquired a new position in Symbotic in the second quarter valued at approximately $32,000. Finally, Gables Capital Management Inc. acquired a new position in Symbotic in the second quarter valued at approximately $39,000.

Symbotic Stock Performance

SYM traded down $1.91 on Thursday, hitting $47.43. The company had a trading volume of 1,055,731 shares, compared to its average volume of 2,397,090. The stock has a fifty day moving average price of $48.59 and a 200-day moving average price of $32.85. Symbotic has a 12-month low of $16.32 and a 12-month high of $64.16. The stock has a market capitalization of $28.01 billion, a price-to-earnings ratio of -677.47 and a beta of 2.05.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.08). Symbotic had a negative net margin of 0.38% and a negative return on equity of 2.02%. The company had revenue of $592.12 million during the quarter, compared to analysts' expectations of $533.55 million. During the same quarter last year, the firm earned ($0.02) EPS. Symbotic's revenue for the quarter was up 25.9% on a year-over-year basis. Analysts forecast that Symbotic will post 0.13 EPS for the current fiscal year.

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.