Symbotic (NASDAQ:SYM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Symbotic (NASDAQ:SYM) from a sell rating to a hold rating in a research report sent to investors on Sunday morning.

A number of other research firms have also weighed in on SYM. Oppenheimer reiterated an “outperform” rating and issued a $83.00 price objective on shares of Symbotic in a research report on Tuesday, November 25th. Robert W. Baird raised their target price on shares of Symbotic from $55.00 to $58.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. UBS Group reaffirmed a “sell” rating and issued a $35.00 target price (up previously from $27.00) on shares of Symbotic in a report on Tuesday, September 23rd. Cantor Fitzgerald increased their price target on shares of Symbotic from $60.00 to $82.00 and gave the stock an “overweight” rating in a report on Tuesday, November 25th. Finally, Northland Securities raised their price objective on shares of Symbotic from $56.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, November 25th. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Symbotic has an average rating of “Hold” and a consensus price target of $56.07.

Symbotic Stock Down 21.5%

Shares of SYM stock opened at $66.95 on Friday. The stock’s 50-day moving average price is $67.35 and its 200 day moving average price is $52.07. The stock has a market capitalization of $39.60 billion, a PE ratio of -446.33, a price-to-earnings-growth ratio of 24.20 and a beta of 2.10. Symbotic has a 52-week low of $16.32 and a 52-week high of $87.88.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Monday, November 24th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). The company had revenue of $618.46 million for the quarter, compared to analyst estimates of $604.00 million. Symbotic had a negative return on equity of 3.89% and a negative net margin of 0.75%.The firm’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.47 earnings per share. Analysts expect that Symbotic will post 0.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Symbotic news, CTO James Kuffner sold 8,348 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $81.30, for a total transaction of $678,692.40. Following the completion of the transaction, the chief technology officer directly owned 30,640 shares in the company, valued at approximately $2,491,032. This trade represents a 21.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Todd Krasnow sold 4,000 shares of Symbotic stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $76.75, for a total transaction of $307,000.00. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 81,508 shares of company stock valued at $6,020,555. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SYM. Amanah Holdings Trust acquired a new position in shares of Symbotic in the second quarter worth $19,824,000. ARK Investment Management LLC boosted its stake in shares of Symbotic by 13.3% during the second quarter. ARK Investment Management LLC now owns 445,498 shares of the company’s stock valued at $17,308,000 after acquiring an additional 52,205 shares during the last quarter. Amundi increased its position in Symbotic by 53.0% during the 1st quarter. Amundi now owns 72,192 shares of the company’s stock worth $1,459,000 after purchasing an additional 24,993 shares in the last quarter. Hunter Associates Investment Management LLC acquired a new position in Symbotic in the 2nd quarter valued at about $361,000. Finally, Prospera Financial Services Inc purchased a new position in Symbotic in the 2nd quarter valued at about $861,000.

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.