Analysts Set Symbotic Inc. (NASDAQ:SYM) Target Price at $38.33

Symbotic Inc. (NASDAQ:SYM) has received a consensus rating of “Hold” from the seventeen brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $38.33.

SYM has been the subject of a number of research reports. TD Cowen lifted their target price on Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. UBS Group dropped their price objective on shares of Symbotic from $40.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Northland Securities increased their target price on shares of Symbotic from $35.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. The Goldman Sachs Group dropped their price target on shares of Symbotic from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. Finally, Raymond James downgraded Symbotic from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 6th.

Symbotic Stock Up 3.4 %

Shares of SYM stock opened at $29.14 on Friday. Symbotic has a 12-month low of $17.11 and a 12-month high of $50.40. The company has a market capitalization of $17.12 billion, a PE ratio of -416.23, a price-to-earnings-growth ratio of 6.45 and a beta of 1.79. The firm has a 50 day moving average price of $27.19 and a two-hundred day moving average price of $26.50.

Symbotic (NASDAQ:SYM) last announced its earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Symbotic had a positive return on equity of 5.11% and a negative net margin of 0.38%. As a group, research analysts expect that Symbotic will post 0.13 EPS for the current year.

Insider Buying and Selling

In other Symbotic news, insider Michael David Dunn sold 1,971 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $30.00, for a total value of $59,130.00. Following the sale, the insider now owns 22,301 shares in the company, valued at $669,030. This trade represents a 8.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $24.04, for a total transaction of $48,080.00. Following the sale, the director now directly owns 214,036 shares in the company, valued at approximately $5,145,425.44. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 94,007 shares of company stock worth $2,827,909 in the last ninety days. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Symbotic

Several large investors have recently bought and sold shares of SYM. IFP Advisors Inc lifted its holdings in shares of Symbotic by 58.2% during the fourth quarter. IFP Advisors Inc now owns 1,368 shares of the company’s stock worth $32,000 after purchasing an additional 503 shares during the period. Castleview Partners LLC raised its position in Symbotic by 50.0% during the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after purchasing an additional 500 shares during the last quarter. Private Trust Co. NA acquired a new position in Symbotic during the 4th quarter worth about $47,000. Arcadia Investment Management Corp MI bought a new stake in shares of Symbotic in the 3rd quarter valued at about $49,000. Finally, RiverPark Advisors LLC grew its position in shares of Symbotic by 147.1% in the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock valued at $50,000 after buying an additional 1,211 shares during the last quarter.

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.