Several analysts have recently updated their ratings and price targets for Symbotic (NASDAQ: SYM):
- 11/21/2023 – Symbotic had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $60.00 price target on the stock.
- 11/21/2023 – Symbotic had its price target raised by analysts at KeyCorp from $50.00 to $63.00. They now have an “overweight” rating on the stock.
- 11/21/2023 – Symbotic had its price target raised by analysts at The Goldman Sachs Group, Inc. from $36.00 to $40.00. They now have a “neutral” rating on the stock.
- 11/21/2023 – Symbotic had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $58.00 price target on the stock.
Symbotic Price Performance
Shares of Symbotic stock traded down $1.05 during trading hours on Monday, reaching $55.68. The company had a trading volume of 1,066,329 shares, compared to its average volume of 900,593. Symbotic Inc. has a one year low of $10.21 and a one year high of $64.14. The business has a fifty day simple moving average of $39.55 and a 200 day simple moving average of $40.56. The firm has a market cap of $30.95 billion, a PE ratio of -150.48 and a beta of 2.12.
Symbotic (NASDAQ:SYM – Get Free Report) last posted its quarterly earnings results on Monday, November 20th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). Symbotic had a negative return on equity of 76.68% and a negative net margin of 2.03%. The company had revenue of $391.89 million during the quarter, compared to the consensus estimate of $306.89 million. During the same period in the previous year, the business earned ($0.10) earnings per share. Symbotic’s revenue was up 60.3% on a year-over-year basis. On average, research analysts forecast that Symbotic Inc. will post -0.02 EPS for the current year.
Insider Buying and Selling
In other Symbotic news, insider Michael David Dunn sold 5,558 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $31.21, for a total transaction of $173,465.18. Following the sale, the insider now owns 96,114 shares in the company, valued at $2,999,717.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Symbotic news, Director Todd Krasnow sold 18,894 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $51.21, for a total transaction of $967,561.74. Following the sale, the director now owns 406,036 shares in the company, valued at $20,793,103.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael David Dunn sold 5,558 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $31.21, for a total value of $173,465.18. Following the transaction, the insider now directly owns 96,114 shares in the company, valued at $2,999,717.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,573 shares of company stock worth $5,478,944. Corporate insiders own 41.00% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Rockefeller Capital Management L.P. bought a new stake in shares of Symbotic in the fourth quarter worth about $29,000. Providence Capital Advisors LLC bought a new stake in Symbotic during the 3rd quarter valued at approximately $33,000. National Bank of Canada FI boosted its position in Symbotic by 66.7% during the 3rd quarter. National Bank of Canada FI now owns 1,000 shares of the company’s stock valued at $35,000 after acquiring an additional 400 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Symbotic by 1,412.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,512 shares of the company’s stock valued at $35,000 after acquiring an additional 1,412 shares in the last quarter. Finally, RFP Financial Group LLC boosted its position in Symbotic by 46.1% during the 2nd quarter. RFP Financial Group LLC now owns 954 shares of the company’s stock valued at $41,000 after acquiring an additional 301 shares in the last quarter.
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.
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