Symbotic Inc. (NASDAQ:SYM) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Symbotic Inc. (NASDAQ:SYMGet Rating) have been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $20.60.

Several brokerages have commented on SYM. Citigroup boosted their target price on Symbotic to $21.00 in a research note on Tuesday, August 9th. Deutsche Bank Aktiengesellschaft boosted their target price on Symbotic from $19.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. Robert W. Baird boosted their target price on Symbotic from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 2nd. William Blair initiated coverage on Symbotic in a research note on Friday, July 15th. They set an “outperform” rating for the company. Finally, The Goldman Sachs Group initiated coverage on Symbotic in a report on Monday, July 25th. They set a “neutral” rating and a $19.00 price target on the stock.

Insider Activity at Symbotic

In related news, insider Michael David Dunn sold 42,000 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $14.49, for a total value of $608,580.00. Following the sale, the insider now directly owns 234,400 shares in the company, valued at $3,396,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 98,334 shares of company stock worth $1,352,282 over the last ninety days.

Institutional Trading of Symbotic

Institutional investors have recently added to or reduced their stakes in the stock. Navis Wealth Advisors LLC acquired a new position in Symbotic in the second quarter valued at approximately $8,067,000. JPMorgan Chase & Co. acquired a new position in Symbotic in the second quarter valued at approximately $534,000. Finally, SB Global Advisers Ltd acquired a new position in Symbotic in the second quarter valued at approximately $219,400,000.

Symbotic Price Performance

SYM stock opened at $13.03 on Friday. The company has a 50-day moving average of $15.33. Symbotic has a 52 week low of $9.01 and a 52 week high of $28.48.

Symbotic (NASDAQ:SYMGet Rating) last posted its quarterly earnings results on Monday, August 1st. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The company had revenue of $175.55 million during the quarter, compared to analyst estimates of $119.88 million. On average, sell-side analysts predict that Symbotic will post -0.22 earnings per share for the current fiscal year.

Symbotic Company Profile

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Symbotic Inc, an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. It offers The Symbotic System, a full-service warehouse automation system that reduces costs, improves efficiency, and maximizes inventory. The company is based in Wilmington, Massachusetts.

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Analyst Recommendations for Symbotic (NASDAQ:SYM)

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