Symbotic (NASDAQ:SYM) Given New $56.00 Price Target at Northland Securities

Symbotic (NASDAQ:SYM - Get Free Report) had its target price lifted by analysts at Northland Securities from $35.00 to $56.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Northland Securities' target price suggests a potential upside of 24.31% from the company's current price.

A number of other equities analysts have also weighed in on the stock. BWS Financial reiterated a "sell" rating and issued a $10.00 price target on shares of Symbotic in a research report on Wednesday, April 2nd. Citigroup dropped their price target on shares of Symbotic from $37.00 to $29.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Arete assumed coverage on shares of Symbotic in a research report on Wednesday, June 25th. They issued a "buy" rating and a $50.00 price target for the company. The Goldman Sachs Group dropped their price target on shares of Symbotic from $25.00 to $18.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Finally, Arete Research upgraded shares of Symbotic to a "strong-buy" rating and set a $50.00 price target for the company in a research report on Wednesday, June 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $39.59.

Symbotic Stock Performance

Shares of SYM traded down $2.23 during mid-day trading on Tuesday, hitting $45.05. 880,541 shares of the company traded hands, compared to its average volume of 1,833,416. The stock has a 50-day moving average price of $30.54 and a two-hundred day moving average price of $26.46. Symbotic has a 1 year low of $16.32 and a 1 year high of $48.40. The stock has a market cap of $26.56 billion, a price-to-earnings ratio of -1,125.98, a P/E/G ratio of 79.85 and a beta of 2.03.

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

Insider Activity at Symbotic

In other Symbotic news, Director Daniela L. Rus sold 1,000 shares of Symbotic stock in a transaction on Monday, June 16th. The shares were sold at an average price of $30.00, for a total transaction of $30,000.00. Following the sale, the director owned 26,435 shares of the company's stock, valued at $793,050. The trade was a 3.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider William M. Boyd III sold 2,455 shares of Symbotic stock in a transaction on Monday, June 16th. The stock was sold at an average price of $31.07, for a total transaction of $76,276.85. Following the sale, the insider directly owned 34,544 shares in the company, valued at approximately $1,073,282.08. This trade represents a 6.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,616 shares of company stock worth $1,140,517 over the last 90 days. Corporate insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SYM. GAMMA Investing LLC increased its stake in Symbotic by 1,812.2% in the first 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 last quarter. Ulland Investment Advisors LLC purchased a new position in Symbotic in the first quarter valued at approximately $31,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Symbotic in the fourth quarter valued at approximately $47,000. CWM LLC increased its stake in Symbotic by 408.2% in the first quarter. CWM LLC now owns 2,602 shares of the company's stock valued at $53,000 after purchasing an additional 2,090 shares during the last quarter. Finally, AlphaQuest LLC increased its stake in Symbotic by 318.5% in the first quarter. AlphaQuest LLC now owns 2,800 shares of the company's stock valued at $57,000 after purchasing an additional 2,131 shares during the last quarter.

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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