Symbotic Inc. (NASDAQ:SYM) Given Average Rating of “Hold” by Brokerages

Shares of Symbotic Inc. (NASDAQ:SYM) have earned a consensus recommendation of “Hold” from the seventeen brokerages that are presently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $60.5714.

A number of research analysts have commented on SYM shares. DA Davidson upped their price objective on Symbotic from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Northland Securities set a $73.00 target price on shares of Symbotic in a research report on Thursday, February 5th. UBS Group set a $70.00 price target on shares of Symbotic in a research report on Wednesday. Needham & Company LLC lifted their price objective on shares of Symbotic from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Symbotic from $55.00 to $63.00 and gave the company a “hold” rating in a report on Tuesday, November 25th.

Symbotic Stock Performance

Shares of SYM opened at $54.01 on Thursday. The firm’s 50-day simple moving average is $61.00 and its 200 day simple moving average is $60.61. The firm has a market cap of $32.52 billion, a P/E ratio of -540.05, a price-to-earnings-growth ratio of 7.38 and a beta of 2.13. Symbotic has a 52 week low of $16.32 and a 52 week high of $87.88.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.06). The firm had revenue of $629.99 million for the quarter, compared to the consensus estimate of $622.58 million. Symbotic had a negative return on equity of 1.88% and a negative net margin of 0.45%.The company’s revenue was up 29.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.03) EPS. As a group, equities analysts forecast that Symbotic will post 0.13 earnings per share for the current year.

Insider Buying and Selling at Symbotic

In other Symbotic news, Director Rollin L. Ford sold 60,000 shares of Symbotic stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $57.51, for a total value of $3,450,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Todd Krasnow sold 4,000 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $53.73, for a total value of $214,920.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 7,204,212 shares of company stock valued at $385,123,962 over the last ninety days. 8.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV raised its stake in Symbotic by 32.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,435 shares of the company’s stock worth $502,000 after acquiring an additional 2,056 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Symbotic by 278.4% during the 4th quarter. NewEdge Advisors LLC now owns 9,711 shares of the company’s stock valued at $578,000 after purchasing an additional 7,145 shares during the last quarter. Twinbeech Capital LP acquired a new position in Symbotic during the 4th quarter worth approximately $1,515,000. Polymer Capital Management US LLC bought a new position in Symbotic in the 4th quarter valued at approximately $279,000. Finally, Readystate Asset Management LP bought a new position in Symbotic in the 4th quarter valued at approximately $470,000.

Symbotic Company Profile

Symbotic Inc (NASDAQ: SYM) is a provider of advanced warehouse automation and robotics systems designed to improve throughput, space utilization and labor productivity in distribution centers and fulfillment operations. The company develops integrated hardware and software solutions that automate the storage, retrieval, sorting and palletizing of goods, positioning itself as a systems integrator for material handling challenges faced by large-scale retailers, wholesalers and third-party logistics providers.

Products and services typically include autonomous robotic vehicles and shuttle systems, automated storage-and-retrieval equipment, robotic picking and palletizing cells, conveyors and sortation, together with control and management software that coordinates fleet operations and inventory flow.