Symbotic (NASDAQ:SYM) Stock Price Up 3.3% - Still a Buy?

Key Points

• Symbotic Inc.'s stock price increased by 3.3% to $54.52, despite a significant decline in trading volume, dropping 58% from its average.
• Equity analysts have mixed ratings on Symbotic, with Goldman Sachs lowering their price target from $25 to $18, while Citigroup maintains a "buy" rating.
• The company's recent earnings report showed a revenue increase of 39.7% year-over-year, yet it missed earnings expectations with a reported loss of ($0.04) per share.

Symbotic Inc. (NASDAQ:SYM - Get Free Report) shares shot up 3.3% on Thursday . The stock traded as high as $55.75 and last traded at $54.52. 803,850 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 1,904,338 shares. The stock had previously closed at $52.75.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SYM. Northland Securities boosted their target price on shares of Symbotic from $35.00 to $56.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Arete Research downgraded shares of Symbotic from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Deutsche Bank Aktiengesellschaft downgraded shares of Symbotic from a "buy" rating to a "hold" rating and set a $51.00 target price for the company. in a research report on Friday, July 18th. Arete downgraded shares of Symbotic from a "buy" rating to a "neutral" rating and set a $50.00 target price for the company. in a research report on Friday, July 25th. Finally, Citigroup reissued a "buy" rating on shares of Symbotic in a research report on Monday, July 14th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $39.87.

Symbotic Stock Performance

The business's 50 day simple moving average is $39.77 and its 200-day simple moving average is $29.64. The stock has a market capitalization of $30.08 billion, a price-to-earnings ratio of -1,284.00, a price-to-earnings-growth ratio of 54.95 and a beta of 2.03.

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

Insider Activity at Symbotic

In related news, insider Maria G. Freve sold 478 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $54.73, for a total value of $26,160.94. Following the sale, the insider directly owned 3,312 shares in the company, valued at $181,265.76. The trade was a 12.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Todd Krasnow sold 4,000 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $46.48, for a total transaction of $185,920.00. Following the completion of the sale, the director owned 189,036 shares in the company, valued at $8,786,393.28. The trade was a 2.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,136 shares of company stock valued at $2,534,217 over the last quarter. Corporate insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Symbotic

A number of large investors have recently made changes to their positions in SYM. GAMMA Investing LLC grew its position in Symbotic by 1,812.2% during 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 in the last quarter. Ulland Investment Advisors LLC acquired a new stake in shares of Symbotic in the first quarter worth $31,000. AdvisorNet Financial Inc acquired a new stake in shares of Symbotic in the second quarter worth $32,000. Gables Capital Management Inc. acquired a new stake in shares of Symbotic in the second quarter worth $39,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in Symbotic during the 4th quarter valued at $47,000.

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.