Symbotic (NASDAQ:SYM – Get Free Report) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.
A number of other analysts have also commented on the company. DA Davidson reissued a “buy” rating and issued a $70.00 target price on shares of Symbotic in a report on Monday, May 11th. Weiss Ratings cut Symbotic from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. The Goldman Sachs Group reduced their price objective on Symbotic from $54.00 to $45.00 and set a “sell” rating for the company in a report on Tuesday, May 26th. Finally, Barclays boosted their target price on Symbotic from $42.00 to $44.00 and gave the stock an “underweight” rating in a research report on Monday, March 16th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $65.23.
View Our Latest Analysis on SYM
Symbotic Trading Up 0.9%
Symbotic (NASDAQ:SYM – Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.11). The company had revenue of $676.48 million during the quarter, compared to analysts’ expectations of $662.65 million. Symbotic had a negative return on equity of 0.68% and a negative net margin of 0.20%.The company’s revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.04) earnings per share. Analysts predict that Symbotic will post 0.23 earnings per share for the current year.
Insider Transactions at Symbotic
In related news, CTO James Kuffner sold 19,729 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $59.82, for a total value of $1,180,188.78. Following the transaction, the chief technology officer owned 179,255 shares of the company’s stock, valued at approximately $10,723,034.10. This trade represents a 9.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Brian Daniel Alexander sold 37,860 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $59.97, for a total transaction of $2,270,464.20. Following the sale, the senior vice president owned 44,229 shares of the company’s stock, valued at $2,652,413.13. This trade represents a 46.12% 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. Over the last ninety days, insiders have sold 147,798 shares of company stock worth $8,221,095. 8.16% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Symbotic
Hedge funds and other institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust raised its holdings in Symbotic by 100.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock worth $32,000 after purchasing an additional 268 shares during the period. Quarry LP bought a new stake in Symbotic during the fourth quarter valued at about $36,000. Parallel Advisors LLC grew its holdings in Symbotic by 67.3% during the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock valued at $37,000 after purchasing an additional 249 shares during the period. Strategic Advocates LLC bought a new stake in Symbotic during the third quarter valued at about $42,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in Symbotic in the fourth quarter worth about $48,000.
More Symbotic News
Here are the key news stories impacting Symbotic this week:
- Positive Sentiment: Analysts and recent commentary continue to argue that Symbotic could be undervalued relative to its warehouse automation growth narrative, with some articles saying the stock still looks cheap after a long run. Symbotic (SYM) Stock Still Looks Cheap Following Its 315% Run
- Neutral Sentiment: Research notes highlight mixed views on the stock, including a Hold-style rating from Zacks and a broader analyst consensus that remains around Hold despite several buy ratings. Symbotic (SYM) Could Be 32% Undervalued On Its Warehouse Automation Narrative
- Negative Sentiment: Recent insider sales from multiple directors may be read as a lack of near-term confidence, adding to pressure on the shares. Symbotic (NASDAQ:SYM) Director Sells 2,000 Shares
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.
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