Symbotic (NASDAQ:SYM) Stock Price Up 5.3% - Should You Buy?

Key Points

• Symbotic Inc. (NASDAQ:SYM) saw a stock price increase of 5.3% to close at $67.86, although trading volume fell by 25% compared to its average.
• Wall Street analysts have mixed ratings for Symbotic, with seven "Buy" ratings, thirteen "Hold" ratings, and three "Sell" ratings, indicating varying confidence in its future performance.
• In the most recent earnings report, Symbotic missed earnings expectations with a loss of ($0.05) EPS, despite a revenue increase of 25.9% year-over-year, reflecting strong demand but ongoing profitability challenges.

Symbotic Inc. (NASDAQ:SYM - Get Free Report) rose 5.3% on Thursday . The company traded as high as $68.46 and last traded at $67.86. Approximately 1,490,237 shares were traded during trading, a decline of 25% from the average daily volume of 1,976,881 shares. The stock had previously closed at $64.44.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Northland Securities boosted their price objective on shares of Symbotic from $35.00 to $56.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Arete Research cut shares of Symbotic from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Citigroup reaffirmed a "buy" rating on shares of Symbotic in a research report on Monday, July 14th. Zacks Research raised shares of Symbotic from a "strong sell" rating to a "hold" rating in a research report on Wednesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft cut shares of Symbotic from a "buy" rating to a "hold" rating and set a $51.00 price objective on the stock. in a research report on Friday, July 18th. Seven research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Symbotic has an average rating of "Hold" and a consensus target price of $44.61.

Symbotic Stock Performance

The firm's 50-day simple moving average is $55.50 and its 200 day simple moving average is $41.96. The stock has a market capitalization of $40.07 billion, a P/E ratio of -969.29, a PEG ratio of 11.77 and a beta of 2.06.

Symbotic (NASDAQ:SYM - Get Free Report) last issued 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 business had revenue of $592.12 million for the quarter, compared to the consensus estimate of $533.55 million. During the same period last year, the firm earned ($0.02) earnings per share. The company's quarterly revenue was up 25.9% compared to the same quarter last year. As a group, research analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current fiscal year.

Insider Activity at Symbotic

In other news, Director Charles Kane sold 25,000 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $47.62, for a total transaction of $1,190,500.00. Following the transaction, the director directly owned 79,507 shares in the company, valued at $3,786,123.34. The trade was a 23.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Todd Krasnow sold 30,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $51.54, for a total transaction of $1,546,200.00. The disclosure for this sale can be found here. Insiders sold 490,348 shares of company stock worth $25,157,458 over the last ninety days. Company insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Private Trust Co. NA grew its stake in Symbotic by 10.0% in the 2nd quarter. Private Trust Co. NA now owns 2,200 shares of the company's stock valued at $85,000 after buying an additional 200 shares during the last quarter. Bouvel Investment Partners LLC grew its stake in Symbotic by 0.8% in the 3rd quarter. Bouvel Investment Partners LLC now owns 44,479 shares of the company's stock valued at $2,397,000 after buying an additional 336 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Symbotic by 24.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,765 shares of the company's stock valued at $69,000 after buying an additional 342 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Symbotic by 7.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 6,354 shares of the company's stock valued at $247,000 after buying an additional 422 shares during the last quarter. Finally, Main Management ETF Advisors LLC grew its stake in Symbotic by 1.7% in the 2nd quarter. Main Management ETF Advisors LLC now owns 29,320 shares of the company's stock valued at $1,139,000 after buying an additional 480 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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