Symbotic (NASDAQ:SYM) Downgraded to Hold Rating by Arete Research

Key Points

• Symbotic has been downgraded from a "strong-buy" to a "hold" rating by Arete Research, signaling a shift in analyst sentiment towards the stock.
• Goldman Sachs has significantly lowered its price target for Symbotic from $25.00 to $18.00, while Northland Securities raised their target from $35.00 to $56.00.
• Symbotic's shares have shown volatility, with a 1-year low of $16.32 and a high of $55.44, underscoring the stock's fluctuation in performance.

Symbotic (NASDAQ:SYM - Get Free Report) was downgraded by investment analysts at Arete Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Friday,Zacks.com reports.

Several other brokerages have also recently commented on SYM. The Goldman Sachs Group decreased their price target on shares of Symbotic from $25.00 to $18.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Northland Securities lifted their target price on Symbotic from $35.00 to $56.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Arete lowered Symbotic from a "buy" rating to a "neutral" rating and set a $50.00 price target for the company. in a research note on Friday. Citigroup reaffirmed a "buy" rating on shares of Symbotic in a research note on Monday, July 14th. Finally, BWS Financial reaffirmed a "sell" rating and set a $10.00 price objective on shares of Symbotic in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $39.94.

Symbotic Price Performance

Shares of NASDAQ SYM opened at $52.99 on Friday. The stock has a market cap of $31.24 billion, a PE ratio of -1,324.75, a price-to-earnings-growth ratio of 55.65 and a beta of 2.03. Symbotic has a 1 year low of $16.32 and a 1 year high of $55.44. The firm has a fifty day moving average price of $37.82 and a 200-day moving average price of $28.90.

Symbotic (NASDAQ:SYM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.09). The business had revenue of $549.65 million during the quarter, compared to analysts' expectations of $522.36 million. Symbotic had a negative return on equity of 1.26% and a negative net margin of 0.23%. The company's quarterly revenue was up 39.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.07) EPS. On average, research analysts expect that Symbotic will post 0.13 EPS for the current year.

Insider Activity

In other Symbotic news, Director Todd Krasnow sold 5,940 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $26.38, for a total value of $156,697.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniela L. Rus sold 2,706 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $49.00, for a total value of $132,594.00. Following the transaction, the director owned 23,729 shares of the company's stock, valued at $1,162,721. This trade represents a 10.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,871 shares of company stock valued at $2,791,800 over the last ninety days. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of Symbotic

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its holdings in shares of Symbotic by 1,812.2% in the first quarter. GAMMA Investing LLC now owns 1,415 shares of the company's stock worth $29,000 after purchasing an additional 1,341 shares during the last quarter. Ulland Investment Advisors LLC purchased a new stake in Symbotic in the 1st quarter valued at about $31,000. AdvisorNet Financial Inc bought a new position in Symbotic in the 2nd quarter worth about $32,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Symbotic during the fourth quarter worth approximately $47,000. Finally, CWM LLC increased its position in shares of Symbotic by 408.2% during the first quarter. CWM LLC now owns 2,602 shares of the company's stock worth $53,000 after acquiring an additional 2,090 shares during the period.

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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