Symbotic (NASDAQ:SYM) Price Target Increased to $21.00 by Analysts at Needham & Company LLC

Symbotic (NASDAQ:SYM – Get Rating) had its price objective boosted by Needham & Company LLC from $18.00 to $21.00 in a report issued on Tuesday morning, Marketbeat reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other research firms also recently weighed in on SYM. Cantor Fitzgerald assumed coverage on shares of Symbotic in a research report on Wednesday, July 20th. They set an overweight rating and a $24.00 price target for the company. Citigroup assumed coverage on shares of Symbotic in a report on Friday, July 1st. They issued a buy rating for the company. William Blair assumed coverage on shares of Symbotic in a report on Friday, July 15th. They issued an outperform rating for the company. Cowen assumed coverage on shares of Symbotic in a report on Tuesday, June 21st. They issued an outperform rating and a $18.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Symbotic in a report on Thursday, June 23rd. They issued a buy rating and a $19.00 price objective for the company. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $20.60.

Symbotic Price Performance

SYM stock opened at $16.22 on Tuesday. Symbotic has a twelve month low of $9.01 and a twelve month high of $28.48. The stock’s 50 day moving average is $16.08.

About Symbotic

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Symbotic Inc, an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. It offers The Symbotic System, a full-service warehouse automation system that reduces costs, improves efficiency, and maximizes inventory. The company is based in Wilmington, Massachusetts.