Symbotic (NASDAQ:SYM) Stock Rating Lowered by Wall Street Zen

Symbotic (NASDAQ:SYM) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

SYM has been the subject of several other research reports. Barclays upped their price objective on Symbotic from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Monday, January 12th. TD Cowen reissued a “buy” rating on shares of Symbotic in a report on Wednesday, December 3rd. Northland Securities set a $73.00 price target on shares of Symbotic in a research report on Thursday, February 5th. Cantor Fitzgerald lifted their price target on shares of Symbotic from $60.00 to $82.00 and gave the stock an “overweight” rating in a report on Tuesday, November 25th. Finally, Needham & Company LLC boosted 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. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $60.57.

Symbotic Stock Performance

NASDAQ SYM opened at $54.78 on Friday. The firm’s fifty day moving average price is $60.34 and its two-hundred day moving average price is $60.50. The stock has a market cap of $32.99 billion, a PE ratio of -547.75, a PEG ratio of 5.76 and a beta of 2.13. Symbotic has a fifty-two week low of $16.32 and a fifty-two week high of $87.88.

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

Insider Buying and Selling

In other Symbotic news, insider Maria G. Freve sold 8,306 shares of the stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $55.11, for a total transaction of $457,743.66. Following the completion of the sale, the insider directly owned 539 shares in the company, valued at approximately $29,704.29. This trade represents a 93.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Todd Krasnow sold 4,000 shares of Symbotic stock in a transaction dated Monday, February 2nd. The stock was 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. In the last 90 days, insiders sold 7,190,533 shares of company stock worth $383,891,335. Corporate insiders own 8.16% of the company’s stock.

Institutional Investors Weigh In On Symbotic

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Symbotic by 47.6% during the 4th quarter. Vanguard Group Inc. now owns 6,932,158 shares of the company’s stock worth $412,463,000 after buying an additional 2,237,137 shares in the last quarter. Morgan Stanley lifted its position in shares of Symbotic by 85.4% during the 4th quarter. Morgan Stanley now owns 2,530,874 shares of the company’s stock valued at $150,587,000 after acquiring an additional 1,165,513 shares during the period. JPMorgan Chase & Co. boosted its stake in Symbotic by 51,346.1% during the fourth quarter. JPMorgan Chase & Co. now owns 2,174,372 shares of the company’s stock worth $129,375,000 after acquiring an additional 2,178,615 shares in the last quarter. UBS Group AG grew its holdings in Symbotic by 22.3% in the third quarter. UBS Group AG now owns 1,105,770 shares of the company’s stock worth $59,601,000 after purchasing an additional 201,547 shares during the period. Finally, Ghisallo Capital Management LLC acquired a new stake in Symbotic in the fourth quarter worth $63,034,000.

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.