Symbotic (NASDAQ:SYM) PT Raised to $53.00

Symbotic (NASDAQ:SYM) had its target price upped by investment analysts at Robert W. Baird from $52.00 to $53.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 26.37% from the company’s current price.

SYM has been the subject of a number of other reports. William Blair reaffirmed a “market perform” rating on shares of Symbotic in a research note on Tuesday, February 6th. Northland Securities upped their price target on Symbotic from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. DA Davidson raised Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Wednesday, February 7th. KeyCorp lowered their price target on Symbotic from $63.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, February 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 price target on shares of Symbotic in a research note on Tuesday. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.08.

Symbotic Trading Up 2.0 %

Shares of NASDAQ:SYM opened at $41.94 on Tuesday. The stock has a market capitalization of $24.20 billion, a P/E ratio of -155.33 and a beta of 1.97. Symbotic has a 1-year low of $23.58 and a 1-year high of $64.14. The business has a 50-day moving average price of $43.01 and a two-hundred day moving average price of $44.19.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Monday, February 5th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. The firm had revenue of $368.45 million during the quarter, compared to analysts’ expectations of $370.28 million. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. As a group, equities analysts predict that Symbotic will post -0.03 EPS for the current year.

Insider Transactions at Symbotic

In other news, insider Michael David Dunn sold 1,747 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $40.08, for a total transaction of $70,019.76. Following the sale, the insider now owns 74,032 shares in the company, valued at approximately $2,967,202.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Michael David Dunn sold 1,747 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $40.08, for a total value of $70,019.76. Following the sale, the insider now owns 74,032 shares in the company, valued at approximately $2,967,202.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William M. Boyd III sold 8,825 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $40.34, for a total value of $356,000.50. Following the completion of the sale, the insider now owns 23,012 shares in the company, valued at approximately $928,304.08. The disclosure for this sale can be found here. Insiders have sold a total of 7,110,447 shares of company stock worth $275,410,529 in the last 90 days. Corporate insiders own 38.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp acquired a new position in Symbotic during the fourth quarter valued at approximately $26,000. Providence Capital Advisors LLC bought a new position in shares of Symbotic in the 3rd quarter valued at $33,000. RiverPark Advisors LLC acquired a new position in shares of Symbotic during the 1st quarter worth $37,000. Global Retirement Partners LLC lifted its position in shares of Symbotic by 166.7% during the 1st quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock worth $48,000 after buying an additional 660 shares during the last quarter. Finally, Pingora Partners LLC bought a new position in Symbotic in the fourth quarter valued at about $51,000.

About Symbotic

Symbotic Inc, an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. The company automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Its systems enhance operations at the front end of the supply chain.