Symbotic Inc. (NASDAQ:SYM) Stock Has Consensus Target Price of $65.45 According to Analysts

Symbotic Inc. (NASDAQ:SYM – Get Free Report) has earned an average rating of “Hold” from the fourteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $65.45.

SYM has been the topic of several research reports. Weiss Ratings upgraded shares of Symbotic from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, September 21st. Zacks Research upgraded shares of Symbotic from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Needham & Company LLC dropped their price target on shares of Symbotic from C$75.00 to C$60.00 and set a “buy” rating on the stock in a research report on Tuesday, September 15th. Barclays cut their price target on Symbotic from $44.00 to $38.00 and set an “underweight” rating for the company in a research note on Tuesday, September 8th. Finally, Robert W. Baird set a $51.00 price objective on Symbotic in a research note on Thursday, August 6th.

Get Our Latest Analysis on SYM

Symbotic Price Performance

Shares of Symbotic stock opened at $42.06 on Friday. The business has a 50-day simple moving average of $42.27 and a 200 day simple moving average of $46.46. Symbotic has a one year low of $37.68 and a one year high of $87.88. The firm has a market capitalization of $25.44 billion, a price-to-earnings ratio of 467.33, a PEG ratio of 4.81 and a beta of 1.97.

Symbotic (NASDAQ:SYM – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). Symbotic had a net margin of 0.48% and a return on equity of 1.40%. The firm had revenue of $720.84 million during the quarter, compared to analyst estimates of $715.03 million. During the same period last year, the business posted ($0.05) EPS. The company’s revenue was up 21.7% on a year-over-year basis. On average, sell-side analysts expect that Symbotic will post 0.21 EPS for the current year.

Insider Activity at Symbotic

In other Symbotic news, CTO James Kuffner sold 18,987 shares of the firm’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $40.38, for a total transaction of $766,695.06. Following the transaction, the chief technology officer directly owned 214,062 shares in the company, valued at approximately $8,643,823.56. This trade represents a 8.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Brian Alexander sold 9,130 shares of Symbotic stock in a transaction on Friday, July 24th. The stock was sold at an average price of $40.30, for a total transaction of $367,939.00. Following the transaction, the senior vice president directly owned 55,611 shares in the company, valued at $2,241,123.30. This represents a 14.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 82,970 shares of company stock valued at $3,397,126 over the last 90 days. Corporate insiders own 8.16% of the company’s stock.

Institutional Trading of Symbotic

Several institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its holdings in Symbotic by 15.6% during the fourth quarter. BNP Paribas Financial Markets now owns 330,320 shares of the company’s stock worth $19,654,000 after purchasing an additional 44,690 shares during the last quarter. USS Investment Management Ltd bought a new position in shares of Symbotic during the 1st quarter worth approximately $15,004,000. Sei Investments Co. grew its holdings in shares of Symbotic by 21.0% in the first quarter. Sei Investments Co. now owns 144,420 shares of the company’s stock valued at $7,683,000 after acquiring an additional 25,024 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Symbotic by 26.6% in the first quarter. Dimensional Fund Advisors LP now owns 109,015 shares of the company’s stock valued at $5,789,000 after acquiring an additional 22,895 shares in the last quarter. Finally, Amundi increased its position in shares of Symbotic by 68.5% during the first quarter. Amundi now owns 108,553 shares of the company’s stock valued at $5,775,000 after acquiring an additional 44,132 shares during the last quarter.

Symbotic Company Profile

(Get Free Report)

Symbotic Inc is a technology company that develops automation systems for warehouse and supply-chain operations. Its platform combines artificial intelligence, robotics, software and high-speed material-handling equipment to automate the movement, storage and retrieval of goods within large distribution centers.

The company’s solutions are designed to manage products from inbound receiving and pallet depalletizing through storage, replenishment, order assembly and outbound shipping. Symbotic’s systems use autonomous robots and software to organize inventory and build store-ready orders, helping retailers and other supply-chain operators improve warehouse utilization, throughput and operational consistency.

Symbotic primarily serves large retail and grocery distribution networks, with deployments concentrated in North America.

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Analyst Recommendations for Symbotic (NASDAQ:SYM)

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