Symbotic Inc. (NASDAQ:SYM) Given Consensus Recommendation of "Hold" by Brokerages

Shares of Symbotic Inc. (NASDAQ:SYM - Get Free Report) have earned a consensus rating of "Hold" from the seventeen research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $37.20.

Several research firms have recently commented on SYM. Needham & Company LLC lowered their target price on Symbotic from $35.00 to $32.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. The Goldman Sachs Group lowered their target price on Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. BWS Financial reissued a "sell" rating and issued a $10.00 target price on shares of Symbotic in a research note on Wednesday, April 2nd. UBS Group lowered their target price on Symbotic from $32.00 to $30.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Finally, Citigroup reduced their price target on Symbotic from $37.00 to $29.00 and set a "buy" rating on the stock in a research report on Monday, April 14th.

Insiders Place Their Bets

In other Symbotic news, Director Todd Krasnow sold 4,060 shares of Symbotic stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $26.40, for a total transaction of $107,184.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Carol J. Hibbard sold 4,628 shares of Symbotic stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $22.62, for a total value of $104,685.36. Following the transaction, the chief financial officer now owns 54,011 shares in the company, valued at approximately $1,221,728.82. This represents a 7.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,187 shares of company stock worth $1,605,814. Corporate insiders own 0.60% of the company's stock.

Institutional Trading of Symbotic

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Symbotic by 1,812.2% in the 1st quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock valued at $29,000 after purchasing an additional 1,341 shares during the period. Ulland Investment Advisors LLC bought a new stake in Symbotic during the first quarter worth about $31,000. IFP Advisors Inc raised its holdings in Symbotic by 58.2% during the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company's stock worth $32,000 after acquiring an additional 503 shares in the last quarter. Private Trust Co. NA bought a new stake in Symbotic during the fourth quarter worth about $47,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in Symbotic during the fourth quarter worth about $47,000.

Symbotic Stock Performance

NASDAQ SYM opened at $28.30 on Tuesday. The stock has a fifty day moving average of $21.94 and a 200-day moving average of $25.63. The stock has a market capitalization of $16.65 billion, a P/E ratio of -404.23, a price-to-earnings-growth ratio of 6.48 and a beta of 1.85. Symbotic has a 52 week low of $16.32 and a 52 week high of $44.08.

Symbotic (NASDAQ:SYM - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). The firm had revenue of $549.65 million during the quarter, compared to analyst estimates of $522.36 million. Symbotic had a negative net margin of 0.38% and a positive return on equity of 5.11%. The firm's quarterly revenue was up 39.7% on a year-over-year basis. During the same period last year, the business posted ($0.07) earnings per share. Equities research analysts forecast that Symbotic will post 0.13 earnings per share 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.

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