Symbotic (NASDAQ:SYM) Stock Rating Reaffirmed by William Blair

Symbotic (NASDAQ:SYM)‘s stock had its “market perform” rating reiterated by William Blair in a research note issued on Friday, RTT News reports. William Blair also issued estimates for Symbotic’s Q3 2024 earnings at ($0.05) EPS, Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at ($0.18) EPS and FY2025 earnings at $0.11 EPS.

Other research analysts have also recently issued research reports about the company. Needham & Company LLC restated a “buy” rating and issued a $54.00 price target on shares of Symbotic in a research report on Tuesday. The Goldman Sachs Group cut their price objective on Symbotic from $51.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft raised their price target on Symbotic from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday. KeyCorp decreased their price objective on Symbotic from $63.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 6th. Finally, DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.69.

Symbotic Stock Performance

NASDAQ:SYM opened at $44.75 on Friday. Symbotic has a 1 year low of $23.58 and a 1 year high of $64.14. The stock has a market capitalization of $25.82 billion, a price-to-earnings ratio of -165.74 and a beta of 1.97. The stock has a fifty day moving average price of $43.40 and a two-hundred day moving average price of $44.25.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Monday, February 5th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.03. The business had revenue of $368.45 million for the quarter, compared to analyst estimates of $370.28 million. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. On average, analysts predict that Symbotic will post -0.03 EPS for the current year.

Insider Buying and Selling at Symbotic

In other news, insider William M. Boyd III sold 8,825 shares of Symbotic stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $40.34, for a total value of $356,000.50. Following the transaction, the insider now directly owns 23,012 shares of the company’s stock, valued at approximately $928,304.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Symbotic news, insider Michael David Dunn sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $40.00, for a total value of $80,000.00. Following the transaction, the insider now directly owns 72,032 shares of the company’s stock, valued at $2,881,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William M. Boyd III sold 8,825 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $40.34, for a total value of $356,000.50. Following the transaction, 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. Over the last 90 days, insiders sold 7,110,447 shares of company stock valued at $275,410,529. Company insiders own 38.30% of the company’s stock.

Institutional Investors Weigh In On Symbotic

Hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. purchased a new stake in shares of Symbotic during the first quarter valued at approximately $426,752,000. Vanguard Group Inc. increased its stake in Symbotic by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 2,081,034 shares of the company’s stock worth $106,819,000 after buying an additional 40,699 shares during the period. 1832 Asset Management L.P. lifted its holdings in Symbotic by 189.5% in the 4th quarter. 1832 Asset Management L.P. now owns 1,055,400 shares of the company’s stock worth $54,174,000 after buying an additional 690,900 shares in the last quarter. Raymond James & Associates boosted its position in Symbotic by 6.3% in the 1st quarter. Raymond James & Associates now owns 616,391 shares of the company’s stock valued at $27,738,000 after buying an additional 36,515 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Symbotic by 44.0% during the fourth quarter. First Trust Advisors LP now owns 510,237 shares of the company’s stock valued at $26,190,000 after acquiring an additional 155,828 shares in the last quarter.

Symbotic Company Profile

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.