Symbotic (NASDAQ:SYM) Stock Price Expected to Rise, DA Davidson Analyst Says

Symbotic (NASDAQ:SYM) had its price target upped by DA Davidson from $47.00 to $50.00 in a research report released on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently commented on the company. BWS Financial reaffirmed a “sell” rating and set a $10.00 target price on shares of Symbotic in a research note on Tuesday, November 19th. Needham & Company LLC upped their target price on Symbotic from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Northland Securities upped their target price on Symbotic from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft upped their target price on Symbotic from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, Craig Hallum cut their target price on Symbotic from $54.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Symbotic has a consensus rating of “Moderate Buy” and a consensus price target of $42.69.

Symbotic Trading Down 35.8 %

Symbotic stock opened at $24.00 on Monday. The firm has a 50-day moving average price of $28.96 and a 200-day moving average price of $30.77. The firm has a market capitalization of $14.05 billion, a PE ratio of -400.00 and a beta of 1.81. Symbotic has a 12-month low of $17.11 and a 12-month high of $59.82.

Symbotic (NASDAQ:SYM) last released its earnings results on Monday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. The firm had revenue of $576.77 million during the quarter, compared to analyst estimates of $470.24 million. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.54%. The business’s revenue was up 47.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.08) EPS. As a group, sell-side analysts predict that Symbotic will post 0.2 earnings per share for the current fiscal year.

Insider Activity at Symbotic

In other Symbotic news, insider William M. Boyd III sold 8,826 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $28.33, for a total transaction of $250,040.58. Following the completion of the sale, the insider now owns 23,012 shares in the company, valued at $651,929.96. This represents a 27.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Carol J. Hibbard sold 22,821 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total value of $660,896.16. Following the sale, the chief financial officer now owns 34,188 shares of the company’s stock, valued at approximately $990,084.48. This represents a 40.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,878 shares of company stock worth $1,378,056. Company insiders own 38.30% of the company’s stock.

Institutional Trading of Symbotic

A number of hedge funds have recently bought and sold shares of SYM. Baillie Gifford & Co. lifted its holdings in shares of Symbotic by 32.0% during the 3rd quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock valued at $343,192,000 after purchasing an additional 3,410,050 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Symbotic by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 2,426,420 shares of the company’s stock valued at $109,189,000 after purchasing an additional 345,386 shares during the last quarter. Thematics Asset Management lifted its holdings in shares of Symbotic by 30.1% during the 3rd quarter. Thematics Asset Management now owns 1,048,170 shares of the company’s stock valued at $25,565,000 after purchasing an additional 242,661 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Symbotic by 76.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 873,987 shares of the company’s stock valued at $21,317,000 after purchasing an additional 379,726 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Symbotic by 191.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 775,900 shares of the company’s stock valued at $27,281,000 after purchasing an additional 509,700 shares during 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.