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

Symbotic Inc. (NASDAQ:SYM) has been assigned a consensus recommendation of “Hold” from the seventeen research firms that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $60.5714.

Several research firms have recently weighed in on SYM. Citigroup reissued an “outperform” rating on shares of Symbotic in a research note on Thursday, February 5th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Symbotic from $55.00 to $63.00 and gave the company a “hold” rating in a research note on Tuesday, November 25th. Northland Securities set a $73.00 price objective on shares of Symbotic in a report on Thursday, February 5th. Cantor Fitzgerald raised their target price on shares of Symbotic from $60.00 to $82.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. Finally, UBS Group set a $70.00 target price on Symbotic in a report on Wednesday, February 18th.

Symbotic Stock Performance

Shares of SYM opened at $49.43 on Monday. The stock has a 50 day moving average price of $58.68 and a 200 day moving average price of $60.85. Symbotic has a one year low of $16.32 and a one year high of $87.88. The stock has a market capitalization of $29.77 billion, a price-to-earnings ratio of -494.25, a PEG ratio of 4.96 and a beta of 2.13.

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

Insider Activity

In other Symbotic news, Director Todd Krasnow sold 4,000 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $53.73, for a total value of $214,920.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO James Kuffner sold 77,321 shares of Symbotic stock in a transaction on Monday, January 26th. The stock was sold at an average price of $59.76, for a total value of $4,620,702.96. Following the transaction, the chief technology officer owned 144,982 shares in the company, valued at approximately $8,664,124.32. This represents a 34.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 193,492 shares of company stock valued at $11,449,123 in the last 90 days. 8.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Symbotic

Hedge funds have recently modified their holdings of the company. Parkside Financial Bank & Trust raised its stake in Symbotic by 100.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 536 shares of the company’s stock worth $32,000 after purchasing an additional 268 shares during the period. MAI Capital Management grew its stake in shares of Symbotic by 833.3% in the 3rd quarter. MAI Capital Management now owns 560 shares of the company’s stock valued at $30,000 after buying an additional 500 shares during the period. Quarry LP purchased a new stake in shares of Symbotic in the 4th quarter valued at approximately $36,000. Parallel Advisors LLC increased its holdings in shares of Symbotic by 67.3% during the 4th quarter. Parallel Advisors LLC now owns 619 shares of the company’s stock worth $37,000 after buying an additional 249 shares during the last quarter. Finally, Ameriflex Group Inc. increased its holdings in shares of Symbotic by 1,500.0% during the 3rd quarter. Ameriflex Group Inc. now owns 704 shares of the company’s stock worth $38,000 after buying an additional 660 shares during the last quarter.

About Symbotic

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.