Symbotic (NASDAQ:SYM – Get Rating) had its price objective hoisted by equities researchers at Citigroup from $16.00 to $32.00 in a report released on Monday, The Fly reports. Citigroup’s price target would indicate a potential upside of 25.89% from the company’s previous close.
Other analysts have also issued reports about the stock. Needham & Company LLC lifted their price target on shares of Symbotic from $18.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, March 24th. The Goldman Sachs Group lifted their target price on shares of Symbotic from $10.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 31st. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Symbotic from $20.00 to $22.00 in a research note on Tuesday, January 31st. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.92.
Symbotic Stock Up 4.8 %
NASDAQ:SYM opened at $25.42 on Monday. The stock has a market cap of $14.12 billion, a price-to-earnings ratio of -4.34 and a beta of 1.29. The company’s 50 day moving average price is $18.58 and its 200-day moving average price is $14.32. Symbotic has a 52 week low of $8.75 and a 52 week high of $28.48.
Symbotic (NASDAQ:SYM – Get Rating) last posted its earnings results on Monday, January 30th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.07). Symbotic had a negative return on equity of 148.57% and a negative net margin of 6.08%. The business had revenue of $206.30 million during the quarter, compared to the consensus estimate of $193.70 million. During the same period in the previous year, the business posted ($4.88) EPS. The firm’s revenue for the quarter was up 167.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Symbotic will post -0.14 earnings per share for the current year.
Insider Buying and Selling at Symbotic
In related news, insider Michael David Dunn sold 2,815 shares of the firm’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $23.29, for a total transaction of $65,561.35. Following the completion of the transaction, the insider now directly owns 146,819 shares of the company’s stock, valued at $3,419,414.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 49,326 shares of company stock valued at $846,941 in the last three months. 41.00% of the stock is currently owned by corporate insiders.
Institutional Trading of Symbotic
A number of institutional investors have recently bought and sold shares of SYM. Saba Capital Management L.P. lifted its stake in Symbotic by 458.4% during the 3rd quarter. Saba Capital Management L.P. now owns 2,791,828 shares of the company’s stock valued at $27,779,000 after acquiring an additional 2,291,828 shares during the period. Navis Wealth Advisors LLC lifted its holdings in Symbotic by 2.6% in the third quarter. Navis Wealth Advisors LLC now owns 754,698 shares of the company’s stock valued at $8,679,000 after acquiring an additional 19,310 shares during the period. Raymond James & Associates boosted its position in Symbotic by 670.6% in the 4th quarter. Raymond James & Associates now owns 178,636 shares of the company’s stock worth $2,133,000 after purchasing an additional 155,456 shares in the last quarter. BlackRock Inc. grew its stake in shares of Symbotic by 325.5% during the 3rd quarter. BlackRock Inc. now owns 170,213 shares of the company’s stock worth $1,958,000 after purchasing an additional 130,213 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Symbotic by 19.4% during the 4th quarter. Geode Capital Management LLC now owns 141,490 shares of the company’s stock valued at $1,689,000 after purchasing an additional 23,004 shares in the last quarter. 57.76% of the stock is currently owned by institutional investors and hedge funds.
Symbotic Company Profile
Symbotic Inc, an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. The company offers Symbotic system, an end-to-end warehouse automation system for product distribution. It also designs, assemblies, and installs modular inventory management systems and performs configuration of embedded software.