Analysts Set Symbotic Inc. (NASDAQ:SYM) PT at $51.92

Shares of Symbotic Inc. (NASDAQ:SYMGet Free Report) have received an average rating of “Moderate Buy” from the twelve research firms that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $51.92.

SYM has been the subject of several analyst reports. KeyCorp boosted their price target on shares of Symbotic from $50.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, November 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Symbotic in a report on Tuesday, November 21st. The Goldman Sachs Group upped their price objective on shares of Symbotic from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, November 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $60.00 price objective on shares of Symbotic in a report on Tuesday, November 21st.

View Our Latest Analysis on SYM

Insider Activity at Symbotic

In other Symbotic news, major shareholder David A. Ladensohn sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $58.48, for a total transaction of $1,169,600.00. Following the completion of the sale, the insider now owns 15,000 shares of the company’s stock, valued at $877,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Todd Krasnow sold 51,106 shares of the stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $52.72, for a total value of $2,694,308.32. Following the completion of the sale, the director now directly owns 406,036 shares of the company’s stock, valued at $21,406,217.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Ladensohn sold 20,000 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $58.48, for a total value of $1,169,600.00. Following the completion of the sale, the insider now directly owns 15,000 shares of the company’s stock, valued at $877,200. The disclosure for this sale can be found here. In the last quarter, insiders sold 491,306 shares of company stock valued at $24,187,258. 38.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Softbank Group CORP. raised its stake in Symbotic by 1,000.0% during the first quarter. Softbank Group CORP. now owns 22,000,000 shares of the company’s stock worth $502,480,000 after acquiring an additional 20,000,000 shares in the last quarter. Frontier Capital Management Co. LLC increased its stake in shares of Symbotic by 202.3% in the first quarter. Frontier Capital Management Co. LLC now owns 1,041,144 shares of the company’s stock valued at $23,780,000 after buying an additional 696,727 shares in the last quarter. FMR LLC increased its stake in shares of Symbotic by 759.7% in the first quarter. FMR LLC now owns 383,593 shares of the company’s stock valued at $8,761,000 after buying an additional 338,975 shares in the last quarter. First Trust Advisors LP acquired a new stake in shares of Symbotic in the first quarter valued at $6,538,000. Finally, Driehaus Capital Management LLC acquired a new stake in shares of Symbotic in the second quarter valued at $11,484,000.

Symbotic Trading Up 7.8 %

Shares of NASDAQ:SYM opened at $50.45 on Wednesday. The company has a fifty day simple moving average of $48.64 and a 200 day simple moving average of $42.75. The firm has a market cap of $28.11 billion, a PE ratio of -136.35 and a beta of 2.02. Symbotic has a 12-month low of $14.14 and a 12-month high of $64.14.

Symbotic (NASDAQ:SYMGet Free Report) last released its earnings results on Monday, November 20th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.02). Symbotic had a negative net margin of 2.03% and a negative return on equity of 105.30%. The business had revenue of $391.89 million for the quarter, compared to the consensus estimate of $306.89 million. During the same quarter in the previous year, the firm earned ($0.10) EPS. The firm’s revenue for the quarter was up 60.3% on a year-over-year basis. As a group, equities research analysts forecast that Symbotic will post -0.02 EPS for the current fiscal year.

Symbotic Company Profile

(Get Free Report

Symbotic Inc, an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. The company offers Symbotic system, an end-to-end warehouse automation system for product distribution. It also designs, assemblies, and installs modular inventory management systems and performs configuration of embedded software.

Recommended Stories

Analyst Recommendations for Symbotic (NASDAQ:SYM)

Receive News & Ratings for Symbotic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Symbotic and related companies with MarketBeat.com's FREE daily email newsletter.