Symbotic Inc. (NASDAQ:SYM) Given Average Recommendation of “Hold” by Analysts

Symbotic Inc. (NASDAQ:SYM) has earned a consensus rating of “Hold” from the seventeen research firms that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $60.7143.

SYM has been the topic of a number of analyst reports. DA Davidson boosted their price target on Symbotic from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. TD Cowen reaffirmed a “buy” rating on shares of Symbotic in a research report on Wednesday, December 3rd. Zacks Research upgraded Symbotic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Northcoast Research downgraded Symbotic from a “buy” rating to a “neutral” rating in a report on Tuesday, November 25th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Symbotic from $55.00 to $63.00 and gave the company a “hold” rating in a report on Tuesday, November 25th.

Insider Activity at Symbotic

In other news, Director Charles Kane sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $47.86, for a total value of $191,440.00. Following the transaction, the director owned 89,852 shares in the company, valued at approximately $4,300,316.72. This represents a 4.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Merline Saintil sold 3,414 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $50.82, for a total transaction of $173,499.48. Following the sale, the director owned 75,344 shares in the company, valued at approximately $3,828,982.08. The trade was a 4.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 193,492 shares of company stock worth $11,449,123 in the last ninety days. 8.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Symbotic

A number of hedge funds have recently added to or reduced their stakes in SYM. Vanguard Group Inc. lifted its position in Symbotic by 47.6% in the 4th quarter. Vanguard Group Inc. now owns 6,932,158 shares of the company’s stock valued at $412,463,000 after acquiring an additional 2,237,137 shares in the last quarter. Morgan Stanley increased its holdings in shares of Symbotic by 85.4% in the 4th quarter. Morgan Stanley now owns 2,530,874 shares of the company’s stock worth $150,587,000 after purchasing an additional 1,165,513 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Symbotic by 51,346.1% in the 4th quarter. JPMorgan Chase & Co. now owns 2,174,372 shares of the company’s stock worth $129,375,000 after purchasing an additional 2,178,615 shares in the last quarter. UBS Group AG raised its stake in shares of Symbotic by 22.3% in the third quarter. UBS Group AG now owns 1,105,770 shares of the company’s stock worth $59,601,000 after purchasing an additional 201,547 shares during the last quarter. Finally, Ghisallo Capital Management LLC purchased a new position in shares of Symbotic in the fourth quarter worth $63,034,000.

Symbotic Price Performance

Shares of Symbotic stock opened at $50.12 on Monday. Symbotic has a 1 year low of $16.32 and a 1 year high of $87.88. The firm has a market cap of $30.18 billion, a price-to-earnings ratio of -501.15, a PEG ratio of 5.14 and a beta of 2.13. The company has a 50-day moving average of $56.78 and a 200 day moving average of $60.78.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.06). The business had revenue of $629.99 million for 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 company’s revenue was up 29.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.03) EPS. On average, equities analysts anticipate that Symbotic will post 0.13 EPS for the current year.

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.