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

Symbotic Inc. (NASDAQ:SYM) has been given an average rating of “Hold” by the seventeen research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $38.33.

SYM has been the topic of several recent research reports. Craig Hallum lowered shares of Symbotic from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a research report on Wednesday, November 27th. Northland Securities lifted their target price on shares of Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. BWS Financial reiterated a “sell” rating and set a $10.00 target price on shares of Symbotic in a research report on Tuesday, January 21st. DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Wednesday, January 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $60.00 target price on shares of Symbotic in a research report on Thursday, February 6th.

Symbotic Price Performance

NASDAQ SYM opened at $27.06 on Friday. The firm has a market capitalization of $15.90 billion, a price-to-earnings ratio of -386.52, a P/E/G ratio of 6.45 and a beta of 1.79. The company’s fifty day moving average is $27.30 and its two-hundred day moving average is $26.40. Symbotic has a 52-week low of $17.11 and a 52-week high of $50.40.

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

Insiders Place Their Bets

In related news, insider Michael David Dunn sold 63,867 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $30.08, for a total transaction of $1,921,119.36. Following the completion of the sale, the insider now directly owns 24,055 shares of the company’s stock, valued at $723,574.40. The trade was a 72.64 % decrease in their ownership of the stock. The transaction 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 that occurred 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 of the company’s stock, valued at approximately $5,145,425.44. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,454 shares of company stock valued at $3,110,501. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Symbotic

Institutional investors and hedge funds have recently modified their holdings of the business. IFP Advisors Inc raised its stake 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 buying an additional 503 shares during the last quarter. Castleview Partners LLC raised its stake in shares of Symbotic by 50.0% during the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after buying an additional 500 shares during the last quarter. Private Trust Co. NA acquired a new position in Symbotic during the fourth quarter valued at approximately $47,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Symbotic during the fourth quarter valued at approximately $47,000. Finally, Arcadia Investment Management Corp MI acquired a new position in Symbotic during the third quarter valued at approximately $49,000.

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.