Symbotic Inc. (NASDAQ:SYM) Given Average Rating of “Moderate Buy” by Analysts

Symbotic Inc. (NASDAQ:SYM) has received a consensus rating of “Moderate Buy” from the fourteen research firms that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $55.69.

Several brokerages have issued reports on SYM. Deutsche Bank Aktiengesellschaft raised their price target on Symbotic from $57.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. William Blair reissued a “market perform” rating on shares of Symbotic in a report on Friday, May 10th. Craig Hallum lifted their target price on Symbotic from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Needham & Company LLC reissued a “buy” rating and set a $54.00 target price on shares of Symbotic in a report on Tuesday, May 7th. Finally, Northland Securities lifted their target price on Symbotic from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th.

Symbotic Price Performance

Shares of Symbotic stock opened at $37.72 on Tuesday. The business has a fifty day simple moving average of $41.92 and a two-hundred day simple moving average of $44.90. Symbotic has a 1 year low of $29.62 and a 1 year high of $64.14. The company has a market capitalization of $22.05 billion, a price-to-earnings ratio of -157.17 and a beta of 1.92.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.25. Symbotic had a positive return on equity of 5.27% and a negative net margin of 1.27%. The business had revenue of $424.30 million during the quarter, compared to the consensus estimate of $415.98 million. As a group, equities analysts anticipate that Symbotic will post -0.07 earnings per share for the current fiscal year.

Insider Activity at Symbotic

In other Symbotic news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $39.79, for a total value of $79,580.00. Following the transaction, the director now owns 214,036 shares in the company, valued at $8,516,492.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Symbotic news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $39.79, for a total value of $79,580.00. Following the transaction, the director now owns 214,036 shares in the company, valued at $8,516,492.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Merline Saintil sold 3,135 shares of Symbotic stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $44.74, for a total value of $140,259.90. Following the completion of the transaction, the director now owns 62,312 shares in the company, valued at approximately $2,787,838.88. The disclosure for this sale can be found here. Insiders sold a total of 103,351 shares of company stock valued at $4,306,595 over the last quarter. 38.30% of the stock is owned by corporate insiders.

Institutional Trading of Symbotic

Several hedge funds and other institutional investors have recently made changes to their positions in the company. RFP Financial Group LLC grew its holdings in shares of Symbotic by 21.2% during the first quarter. RFP Financial Group LLC now owns 1,382 shares of the company’s stock worth $62,000 after purchasing an additional 242 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Symbotic by 11.6% in the first quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock worth $123,000 after acquiring an additional 284 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Symbotic by 8.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,875 shares of the company’s stock worth $250,000 after acquiring an additional 400 shares during the period. Natixis Advisors L.P. lifted its stake in shares of Symbotic by 4.3% in the fourth quarter. Natixis Advisors L.P. now owns 10,983 shares of the company’s stock worth $563,000 after acquiring an additional 456 shares during the period. Finally, Van ECK Associates Corp acquired a new position in shares of Symbotic in the fourth quarter worth approximately $26,000.

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.