Symbotic’s (SYM) “Overweight” Rating Reiterated at Cantor Fitzgerald

Symbotic (NASDAQ:SYM)‘s stock had its “overweight” rating reissued by Cantor Fitzgerald in a report released on Thursday,Benzinga reports. They presently have a $60.00 price objective on the stock. Cantor Fitzgerald’s target price points to a potential upside of 82.03% from the company’s current price.

SYM has been the topic of a number of other research reports. DA Davidson raised Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Wednesday, January 8th. UBS Group reduced their price target on Symbotic from $40.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Craig Hallum lowered Symbotic from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a report on Wednesday, November 27th. William Blair reiterated a “market perform” rating on shares of Symbotic in a research report on Thursday, December 5th. Finally, TD Cowen boosted their price target on shares of Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.73.

Symbotic Stock Performance

Shares of SYM stock traded down $0.33 on Thursday, hitting $32.96. The stock had a trading volume of 263,811 shares, compared to its average volume of 2,674,061. Symbotic has a 52-week low of $17.11 and a 52-week high of $52.20. The stock’s 50 day moving average is $27.87 and its 200-day moving average is $27.42. The firm has a market capitalization of $19.36 billion, a price-to-earnings ratio of -548.00, a P/E/G ratio of 7.72 and a beta of 1.76.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. The business had revenue of $576.77 million during the quarter, compared to the consensus estimate of $470.24 million. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. The company’s revenue for the quarter was up 47.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.08) EPS. Equities analysts expect that Symbotic will post 0.14 earnings per share for the current year.

Insiders Place Their Bets

In other Symbotic news, insider Michael David Dunn sold 13,114 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $32.19, for a total transaction of $422,139.66. Following the completion of the transaction, the insider now directly owns 18,746 shares in the company, valued at $603,433.74. This represents a 41.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider William M. Boyd III sold 8,826 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 23,012 shares of the company’s stock, valued at approximately $651,929.96. The trade was a 27.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 117,993 shares of company stock valued at $3,490,555 over the last 90 days. 38.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Symbotic

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in Symbotic in the fourth quarter worth about $559,000. Bourne Lent Asset Management Inc. grew its stake in shares of Symbotic by 34.8% during the fourth quarter. Bourne Lent Asset Management Inc. now owns 87,210 shares of the company’s stock worth $2,068,000 after purchasing an additional 22,500 shares during the period. MCF Advisors LLC bought a new stake in shares of Symbotic in the 4th quarter valued at about $85,000. Bouvel Investment Partners LLC acquired a new stake in shares of Symbotic in the 4th quarter valued at approximately $1,056,000. Finally, Armstrong Advisory Group Inc. boosted its stake in Symbotic by 122.2% during the 4th quarter. Armstrong Advisory Group Inc. now owns 11,782 shares of the company’s stock worth $279,000 after acquiring an additional 6,479 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.