Symbotic (NASDAQ:SYM) Trading Up 4.9% - Should You Buy?

Key Points

• Shares rose 4.9% intraday to $52.60 on Monday with ~1.58M shares traded (down 13% vs. average); market cap is about $31.7 billion.
• Analyst consensus: Hold — 6 Buy / 7 Hold / 4 Sell with a consensus target of $60.71 and notable targets ranging from $55 to $82 after recent revisions.
• Earnings miss but revenue growth: Q end EPS was $0.02 vs. $0.08 expected while revenue grew 29.4% y/y to $629.99M; insiders sold ~193,492 shares (~$11.45M) over the last quarter.

Symbotic Inc. (NASDAQ:SYM - Get Free Report)'s share price rose 4.9% during mid-day trading on Monday . The company traded as high as $53.97 and last traded at $52.60. Approximately 1,583,476 shares were traded during trading, a decline of 13% from the average daily volume of 1,827,582 shares. The stock had previously closed at $50.12.

Analyst Ratings Changes

Several research firms recently weighed in on SYM. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Symbotic in a report on Thursday, January 22nd. UBS Group set a $70.00 target price on Symbotic in a research report on Wednesday, February 18th. Wall Street Zen lowered Symbotic from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Cantor Fitzgerald increased their price target on Symbotic from $60.00 to $82.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Symbotic from $55.00 to $63.00 and gave the stock a "hold" rating in a report on Tuesday, November 25th. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Symbotic has a consensus rating of "Hold" and a consensus target price of $60.71.

Symbotic Price Performance

The stock has a market cap of $31.67 billion, a P/E ratio of -525.95, a price-to-earnings-growth ratio of 5.02 and a beta of 2.13. The company has a 50 day simple moving average of $56.78 and a 200-day simple moving average of $60.99.

Symbotic (NASDAQ:SYM - Get Free Report) last issued its earnings results on Wednesday, February 4th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.06). Symbotic had a negative net margin of 0.45% and a negative return on equity of 1.88%. The company had revenue of $629.99 million for the quarter, compared to analysts' expectations of $622.58 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share. The company's revenue was up 29.4% 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 year.

Insider Buying and Selling

In other news, Director Todd Krasnow sold 4,000 shares of the business's stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $53.73, for a total value of $214,920.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rollin L. Ford sold 60,000 shares of the company's stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $57.51, for a total value of $3,450,600.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 193,492 shares of company stock worth $11,449,123 over the last quarter. Company insiders own 8.16% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. MAI Capital Management increased its stake in shares of Symbotic by 833.3% in the 3rd quarter. MAI Capital Management now owns 560 shares of the company's stock worth $30,000 after purchasing an additional 500 shares in the last quarter. IAG Wealth Partners LLC bought a new stake in Symbotic during the second quarter valued at about $32,000. Parkside Financial Bank & Trust grew its holdings in Symbotic by 100.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 536 shares of the company's stock valued at $32,000 after purchasing an additional 268 shares during the period. Quarry LP purchased a new stake in Symbotic in the fourth quarter worth about $36,000. Finally, Parallel Advisors LLC increased its position in Symbotic by 67.3% in the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company's stock worth $37,000 after buying an additional 249 shares in the last quarter.

About Symbotic

Symbotic Inc NASDAQ: SYM is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.

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