Brokerages Set Symbotic Inc. (NASDAQ:SYM) Price Target at $65.23

Symbotic Inc. (NASDAQ:SYM) has been given a consensus rating of “Hold” by the sixteen analysts that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a sell recommendation, five have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $65.2308.

A number of equities research analysts have weighed in on SYM shares. UBS Group set a $70.00 price target on shares of Symbotic in a report on Wednesday, February 18th. Zacks Research raised shares of Symbotic from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. The Goldman Sachs Group cut their price target on shares of Symbotic from $54.00 to $45.00 and set a “sell” rating for the company in a report on Tuesday, May 26th. Citigroup reissued an “outperform” rating on shares of Symbotic in a report on Thursday, February 5th. Finally, DA Davidson reissued a “buy” rating and issued a $70.00 price target on shares of Symbotic in a report on Monday, May 11th.

Symbotic Stock Down 3.8%

SYM stock opened at $47.21 on Friday. The company has a market capitalization of $28.45 billion, a P/E ratio of -944.01, a PEG ratio of 7.24 and a beta of 1.91. The company has a 50-day simple moving average of $54.08 and a 200 day simple moving average of $57.84. Symbotic has a fifty-two week low of $27.26 and a fifty-two week high of $87.88.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.11). The company had revenue of $676.48 million during the quarter, compared to analyst estimates of $662.66 million. Symbotic had a negative return on equity of 0.68% and a negative net margin of 0.20%.The business’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.04) EPS. Equities analysts anticipate that Symbotic will post 0.23 EPS for the current year.

Insider Buying and Selling

In other Symbotic news, Director Charles Kane sold 2,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $45.99, for a total value of $91,980.00. Following the completion of the sale, the director directly owned 89,852 shares of the company’s stock, valued at approximately $4,132,293.48. This represents a 2.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $47.30, for a total value of $94,600.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 153,845 shares of company stock worth $8,601,544 in the last ninety days. Insiders own 8.16% of the company’s stock.

Institutional Trading of Symbotic

Several institutional investors and hedge funds have recently bought and sold shares of SYM. Vanguard Group Inc. raised its holdings in Symbotic by 47.6% during the 4th quarter. Vanguard Group Inc. now owns 6,932,158 shares of the company’s stock worth $412,463,000 after buying an additional 2,237,137 shares during the period. JPMorgan Chase & Co. raised its holdings in Symbotic by 51,346.1% during the 4th quarter. JPMorgan Chase & Co. now owns 2,174,372 shares of the company’s stock worth $129,375,000 after buying an additional 2,178,615 shares during the period. Morgan Stanley raised its holdings in Symbotic by 85.4% during the 4th quarter. Morgan Stanley now owns 2,530,874 shares of the company’s stock worth $150,587,000 after buying an additional 1,165,513 shares during the period. Ghisallo Capital Management LLC acquired a new stake in Symbotic during the 4th quarter worth about $63,034,000. Finally, Marshall Wace LLP acquired a new stake in Symbotic during the 4th quarter worth about $33,997,000.

Symbotic Company Profile

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.