Symbotic's (SYM) Neutral Rating Reiterated at DA Davidson

Key Points

• DA Davidson has reaffirmed a **"neutral" rating** for Symbotic and increased their price target from **$35.00 to $47.00**, suggesting a potential upside of **1.67%** from the current stock price.
• Symbotic reported a **revenue increase of 25.9%** year over year, totaling **$592.12 million**, but missed the earnings per share forecast, posting **($0.05)** compared to the expected **$0.03**.
• Several analysts have adjusted their ratings for Symbotic, with **six rating it as a buy**, **twelve as hold**, and **two as sell**, indicating mixed perspectives on the stock's future performance.

DA Davidson reissued their neutral rating on shares of Symbotic (NASDAQ:SYM - Free Report) in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have a $47.00 price target on the stock, up from their previous price target of $35.00.

SYM has been the topic of a number of other research reports. Zacks Research lowered Symbotic from a "hold" rating to a "strong sell" rating in a research report on Friday, August 15th. Northland Securities upped their price objective on shares of Symbotic from $35.00 to $56.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Baird R W downgraded shares of Symbotic from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. Oppenheimer increased their target price on shares of Symbotic from $54.00 to $59.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, Arete Research cut shares of Symbotic from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Six research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $43.44.

Symbotic Stock Down 4.7%

NASDAQ SYM traded down $2.32 on Monday, reaching $47.02. The stock had a trading volume of 638,418 shares, compared to its average volume of 1,972,913. Symbotic has a 12-month low of $16.32 and a 12-month high of $64.16. The stock has a fifty day moving average price of $48.32 and a two-hundred day moving average price of $32.66. The firm has a market capitalization of $27.76 billion, a price-to-earnings ratio of -671.10 and a beta of 2.06.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $592.12 million for the quarter, compared to analysts' expectations of $533.55 million. During the same period in the prior year, the company posted ($0.02) EPS. The firm's revenue was up 25.9% compared to the same quarter last year. Sell-side analysts forecast that Symbotic will post 0.13 earnings per share for the current fiscal year.

Insider Transactions at Symbotic

In other Symbotic news, Director Rollin L. Ford sold 90,000 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $51.57, for a total value of $4,641,300.00. Following the transaction, the director owned 14,507 shares in the company, valued at $748,125.99. The trade was a 86.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Todd Krasnow sold 30,000 shares of the business's stock in a transaction on 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 484,632 shares of company stock worth $23,837,791 in the last three months. 0.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Symbotic

A number of institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in Symbotic by 100.6% in the 4th quarter. JPMorgan Chase & Co. now owns 17,349 shares of the company's stock worth $411,000 after purchasing an additional 3,110,075 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Symbotic by 40.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,566 shares of the company's stock valued at $85,000 after acquiring an additional 1,018 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of Symbotic in the fourth quarter valued at approximately $601,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Symbotic in the fourth quarter valued at approximately $1,053,000. Finally, Northern Trust Corp boosted its holdings in shares of Symbotic by 23.7% in the fourth quarter. Northern Trust Corp now owns 110,148 shares of the company's stock valued at $2,612,000 after acquiring an additional 21,077 shares in 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.