Symbotic Inc. (NASDAQ:SYM) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Symbotic Inc. has received an average recommendation of "Hold" from 23 analysts, with ratings including three sell, thirteen hold, and seven buy ratings.
• The company's stock price recently decreased by 4.2%, opening at $72.19, with a 52-week range of $16.32 to $79.58.
• In its latest earnings report, Symbotic reported a revenue of $592.12 million, exceeding analyst expectations, but had a negative EPS of ($0.05).

Shares of Symbotic Inc. (NASDAQ:SYM - Get Free Report) have received an average recommendation of "Hold" from the twenty-three ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $44.6111.

Several research analysts have recently commented on SYM shares. Wall Street Zen upgraded Symbotic from a "sell" rating to a "hold" rating in a report on Saturday, October 11th. Citigroup restated a "buy" rating on shares of Symbotic in a report on Monday, July 14th. UBS Group restated a "sell" rating and issued a $35.00 price objective (up from $27.00) on shares of Symbotic in a report on Tuesday, September 23rd. Weiss Ratings restated a "hold (c-)" rating on shares of Symbotic in a report on Wednesday, October 8th. Finally, Arete Research lowered shares of Symbotic from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th.

Symbotic Stock Down 4.2%

NASDAQ SYM opened at $72.19 on Friday. Symbotic has a 52 week low of $16.32 and a 52 week high of $79.58. The business's fifty day simple moving average is $54.28 and its 200-day simple moving average is $40.62. The firm has a market cap of $42.63 billion, a PE ratio of -1,031.14, a P/E/G ratio of 14.60 and a beta of 2.06.

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

Insider Transactions at Symbotic

In related news, insider William M. Boyd III sold 2,455 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $50.58, for a total value of $124,173.90. Following the sale, the insider directly owned 29,429 shares in the company, valued at approximately $1,488,518.82. The trade was a 7.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder David A. Ladensohn sold 23,000 shares of the business's stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $66.75, for a total transaction of $1,535,250.00. Following the completion of the sale, the insider owned 5,000 shares in the company, valued at approximately $333,750. This trade represents a 82.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 474,666 shares of company stock worth $23,978,967 in the last 90 days. Insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On Symbotic

Several institutional investors have recently bought and sold shares of SYM. GAMMA Investing LLC grew its position in 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 acquiring an additional 1,341 shares in the last quarter. SG Americas Securities LLC grew its position in Symbotic by 44.1% in the 1st quarter. SG Americas Securities LLC now owns 33,986 shares of the company's stock valued at $687,000 after acquiring an additional 10,401 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Symbotic by 11.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,285 shares of the company's stock valued at $268,000 after acquiring an additional 1,357 shares in the last quarter. Register Financial Advisors LLC grew its position in Symbotic by 9.5% in the 1st quarter. Register Financial Advisors LLC now owns 119,767 shares of the company's stock valued at $2,420,000 after acquiring an additional 10,350 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in Symbotic by 21.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 15,658 shares of the company's stock valued at $316,000 after acquiring an additional 2,737 shares in the last quarter.

About Symbotic

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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