Symbotic (NASDAQ:SYM) PT Raised to $58.00 at Deutsche Bank Aktiengesellschaft

Symbotic (NASDAQ:SYM) had its price target boosted by Deutsche Bank Aktiengesellschaft from $57.00 to $58.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 19.93% from the company’s current price.

SYM has been the topic of several other research reports. DA Davidson raised shares of Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Wednesday, February 7th. KeyCorp dropped their target price on shares of Symbotic from $63.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, February 6th. The Goldman Sachs Group lowered their price objective on Symbotic from $51.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a research note on Tuesday, February 6th. Finally, William Blair restated a “market perform” rating on shares of Symbotic in a report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.69.

Symbotic Stock Up 4.0 %

NASDAQ:SYM opened at $48.36 on Tuesday. The business’s 50-day moving average price is $43.30 and its two-hundred day moving average price is $44.25. The stock has a market cap of $27.91 billion, a P/E ratio of -179.11 and a beta of 1.97. Symbotic has a twelve month low of $23.58 and a twelve month high of $64.14.

Symbotic (NASDAQ:SYM) last posted its quarterly earnings data on Monday, February 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. Symbotic had a negative net margin of 1.39% and a negative return on equity of 35.06%. The company had revenue of $368.45 million during the quarter, compared to the consensus estimate of $370.28 million. On average, equities research analysts expect that Symbotic will post -0.03 EPS for the current fiscal year.

Insider Activity at Symbotic

In related news, Director Merline Saintil sold 3,135 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $44.74, for a total value of $140,259.90. Following the completion of the sale, the director now directly owns 62,312 shares of the company’s stock, valued at approximately $2,787,838.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Symbotic news, Director Merline Saintil sold 3,135 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $44.74, for a total transaction of $140,259.90. Following the sale, the director now directly owns 62,312 shares of the company’s stock, valued at $2,787,838.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Todd Krasnow sold 2,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $39.39, for a total value of $78,780.00. Following the sale, the director now owns 10,447 shares of the company’s stock, valued at approximately $411,507.33. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,110,447 shares of company stock worth $275,410,529. Corporate insiders own 38.30% of the company’s stock.

Institutional Investors Weigh In On Symbotic

Hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp purchased a new position in shares of Symbotic in the fourth quarter valued at $26,000. RiverPark Advisors LLC bought a new position in shares of Symbotic in the 1st quarter valued at about $37,000. Providence Capital Advisors LLC bought a new stake in Symbotic during the third quarter worth approximately $33,000. Pingora Partners LLC bought a new stake in shares of Symbotic in the 4th quarter valued at approximately $51,000. Finally, Global Retirement Partners LLC increased its position in shares of Symbotic by 166.7% during the 1st quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock valued at $48,000 after purchasing an additional 660 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.