Symbotic Inc. (NASDAQ:SYM) Receives $60.57 Average Target Price from Brokerages

Shares of Symbotic Inc. (NASDAQ:SYM) have been assigned an average rating of “Hold” from the seventeen ratings firms that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $60.5714.

SYM has been the topic of several research analyst reports. Oppenheimer restated an “outperform” rating and set a $83.00 price objective on shares of Symbotic in a research note on Tuesday, November 25th. Barclays lifted their price target on shares of Symbotic from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Monday, January 12th. Wall Street Zen upgraded shares of Symbotic from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. The Goldman Sachs Group restated a “sell” rating and issued a $50.00 target price on shares of Symbotic in a research note on Thursday, January 15th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Symbotic in a report on Wednesday, December 3rd.

Insider Buying and Selling at Symbotic

In other Symbotic news, major shareholder Svf Sponsor Iii (De) Llc sold 3,500,000 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $53.21, for a total value of $186,235,000.00. Following the completion of the transaction, the insider owned 5,590,000 shares in the company, valued at approximately $297,443,900. This represents a 38.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider William M. Boyd III sold 15,000 shares of Symbotic stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $69.00, for a total value of $1,035,000.00. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 7,199,533 shares of company stock worth $384,653,815. 8.16% of the stock is owned by company insiders.

Institutional Trading of Symbotic

Hedge funds and other institutional investors have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV lifted its position in Symbotic by 32.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,435 shares of the company’s stock worth $502,000 after buying an additional 2,056 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Symbotic by 278.4% during the 4th quarter. NewEdge Advisors LLC now owns 9,711 shares of the company’s stock valued at $578,000 after acquiring an additional 7,145 shares in the last quarter. Twinbeech Capital LP acquired a new position in shares of Symbotic in the fourth quarter worth $1,515,000. Polymer Capital Management US LLC acquired a new position in shares of Symbotic in the fourth quarter worth $279,000. Finally, Readystate Asset Management LP purchased a new stake in shares of Symbotic during the fourth quarter worth $470,000.

Symbotic Stock Performance

NASDAQ:SYM opened at $56.14 on Thursday. The company has a market capitalization of $33.81 billion, a price-to-earnings ratio of -561.34, a price-to-earnings-growth ratio of 5.64 and a beta of 2.13. Symbotic has a one year low of $16.32 and a one year high of $87.88. The stock has a 50-day simple moving average of $60.44 and a 200 day simple moving average of $60.50.

Symbotic (NASDAQ:SYM) last released its earnings results on Wednesday, February 4th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.06). The firm had revenue of $629.99 million for the quarter, compared to the consensus estimate of $622.58 million. Symbotic had a negative return on equity of 1.88% and a negative net margin of 0.45%.The company’s quarterly revenue was up 29.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.03) EPS. On average, equities research analysts forecast that Symbotic will post 0.13 EPS for the current fiscal year.

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.