Symbotic (NASDAQ:SYM) Given New $44.00 Price Target at Barclays

Symbotic (NASDAQ:SYM) had its price objective lifted by equities research analysts at Barclays from $42.00 to $44.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Barclays‘s price target would suggest a potential downside of 13.38% from the company’s current price.

Several other research analysts have also commented on the company. Robert W. Baird boosted their price target on Symbotic from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Symbotic in a report on Thursday, January 22nd. Needham & Company LLC raised their price target on shares of Symbotic from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Symbotic from $55.00 to $63.00 and gave the stock a “hold” rating in a research note on Tuesday, November 25th. Finally, Oppenheimer reissued an “outperform” rating and set a $83.00 target price on shares of Symbotic in a research report on Tuesday, November 25th. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $60.71.

Symbotic Trading Up 2.8%

Shares of NASDAQ SYM traded up $1.37 during mid-day trading on Monday, reaching $50.80. The company had a trading volume of 368,215 shares, compared to its average volume of 1,862,011. The stock has a market cap of $30.59 billion, a price-to-earnings ratio of -507.67, a price-to-earnings-growth ratio of 4.96 and a beta of 2.13. Symbotic has a 52 week low of $16.32 and a 52 week high of $87.88. The business’s 50-day moving average is $58.68 and its 200-day moving average is $60.85.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.06). The firm had revenue of $629.99 million during the quarter, compared to the consensus estimate of $622.58 million. Symbotic had a negative return on equity of 1.88% and a negative net margin of 0.45%.The firm’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same period last year, the company earned ($0.03) EPS. As a group, equities research analysts forecast that Symbotic will post 0.13 earnings per share for the current year.

Insider Buying and Selling at Symbotic

In other Symbotic news, Director Merline Saintil sold 3,414 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $50.82, for a total value of $173,499.48. Following the completion of the transaction, the director directly owned 75,344 shares of the company’s stock, valued at approximately $3,828,982.08. The trade was a 4.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Todd Krasnow sold 2,000 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $47.70, for a total transaction of $95,400.00. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 193,492 shares of company stock worth $11,449,123. Corporate insiders own 8.16% of the company’s stock.

Hedge Funds Weigh In On Symbotic

A number of large investors have recently bought and sold shares of the business. MAI Capital Management lifted its position in shares of Symbotic by 833.3% during the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock valued at $30,000 after buying an additional 500 shares in the last quarter. IAG Wealth Partners LLC purchased a new stake in Symbotic in the 2nd quarter worth $32,000. Parkside Financial Bank & Trust raised its position in Symbotic by 100.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock worth $32,000 after acquiring an additional 268 shares during the period. Quarry LP acquired a new position in Symbotic during the fourth quarter worth $36,000. Finally, Parallel Advisors LLC lifted its holdings in Symbotic by 67.3% during the fourth quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock valued at $37,000 after purchasing an additional 249 shares in the last quarter.

Symbotic Company Profile

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.