Symbotic (NASDAQ:SYM) Given New $32.00 Price Target at Robert W. Baird

Symbotic (NASDAQ:SYM – Get Rating) had its target price increased by Robert W. Baird from $28.00 to $32.00 in a report published on Monday, The Fly reports.

Several other research analysts also recently issued reports on the stock. Needham & Company LLC raised their price objective on shares of Symbotic from $25.00 to $31.00 in a research report on Tuesday, May 2nd. DA Davidson raised their price objective on shares of Symbotic from $22.00 to $30.00 in a research report on Wednesday, May 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Symbotic from $22.00 to $31.00 in a report on Tuesday, May 2nd. The Goldman Sachs Group lifted their target price on shares of Symbotic from $10.00 to $14.00 and gave the company a neutral rating in a report on Tuesday, January 31st. Finally, Raymond James lifted their target price on shares of Symbotic from $23.00 to $35.00 in a report on Tuesday, May 2nd. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Symbotic currently has a consensus rating of Moderate Buy and an average price target of $28.31.

Symbotic Price Performance

Shares of NASDAQ:SYM opened at $31.13 on Monday. The company’s fifty day moving average price is $25.02 and its 200 day moving average price is $17.53. Symbotic has a 12 month low of $8.75 and a 12 month high of $32.17. The firm has a market capitalization of $17.29 billion, a P/E ratio of -86.71 and a beta of 1.31.

Symbotic (NASDAQ:SYM – Get Rating) last issued its quarterly earnings data on Monday, May 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.04). Symbotic had a negative return on equity of 78.17% and a negative net margin of 2.26%. The business had revenue of $266.85 million for the quarter, compared to analysts’ expectations of $224.82 million. During the same period in the previous year, the business posted ($5.61) earnings per share. The company’s revenue for the quarter was up 177.2% on a year-over-year basis. On average, sell-side analysts anticipate that Symbotic will post -0.29 EPS for the current year.

Insider Buying and Selling

In other Symbotic news, insider Michael David Dunn sold 20,579 shares of Symbotic stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $16.98, for a total transaction of $349,431.42. Following the completion of the transaction, the insider now owns 195,891 shares in the company, valued at $3,326,229.18. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Symbotic news, insider Michael David Dunn sold 20,579 shares of Symbotic stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $16.98, for a total transaction of $349,431.42. Following the completion of the transaction, the insider now owns 195,891 shares in the company, valued at $3,326,229.18. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rollin L. Ford bought 8,000 shares of the business’s stock in a transaction on Monday, May 15th. The shares were acquired at an average price of $24.70 per share, with a total value of $197,600.00. Following the transaction, the director now owns 8,000 shares of the company’s stock, valued at approximately $197,600. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 54,326 shares of company stock valued at $984,841. Corporate insiders own 41.00% of the company’s stock.

Hedge Funds Weigh In On Symbotic

A number of institutional investors have recently modified their holdings of SYM. Rockefeller Capital Management L.P. acquired a new position in shares of Symbotic in the fourth quarter valued at approximately $29,000. JPMorgan Chase & Co. raised its position in shares of Symbotic by 1,412.0% in the first quarter. JPMorgan Chase & Co. now owns 1,512 shares of the company’s stock valued at $35,000 after buying an additional 1,412 shares during the last quarter. Toronto Dominion Bank acquired a new position in shares of Symbotic in the fourth quarter valued at approximately $36,000. Altshuler Shaham Ltd purchased a new stake in Symbotic in the third quarter valued at approximately $50,000. Finally, Advisor Group Holdings Inc. grew its holdings in Symbotic by 30.4% in the fourth quarter. Advisor Group Holdings Inc. now owns 4,299 shares of the company’s stock valued at $52,000 after purchasing an additional 1,002 shares during the period. Institutional investors and hedge funds own 57.76% of the company’s stock.

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. The company offers Symbotic system, an end-to-end warehouse automation system for product distribution. It also designs, assemblies, and installs modular inventory management systems and performs configuration of embedded software.