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

Shares of Symbotic Inc. (NASDAQ:SYM) have earned an average rating of “Hold” from the nineteen analysts that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $56.50.

Several research firms recently commented on SYM. Cantor Fitzgerald raised their price target on shares of Symbotic from $60.00 to $82.00 and gave the company an “overweight” rating in a research report on Tuesday, November 25th. UBS Group reissued a “sell” rating and set a $35.00 target price (up from $27.00) on shares of Symbotic in a research note on Tuesday, September 23rd. DA Davidson restated a “neutral” rating and issued a $47.00 price target on shares of Symbotic in a research note on Tuesday, November 25th. Oppenheimer reaffirmed an “outperform” rating and issued a $83.00 price target on shares of Symbotic in a report on Tuesday, November 25th. Finally, The Goldman Sachs Group downgraded Symbotic from a “neutral” rating to a “sell” rating and set a $47.00 price target on the stock. in a research report on Tuesday, December 2nd.

Symbotic Trading Down 3.4%

Shares of NASDAQ:SYM opened at $61.43 on Friday. Symbotic has a 12-month low of $16.32 and a 12-month high of $87.88. The company has a market capitalization of $36.34 billion, a PE ratio of -409.53, a PEG ratio of 18.05 and a beta of 2.10. The business has a 50 day moving average of $68.39 and a two-hundred day moving average of $53.65.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, November 24th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). The firm had revenue of $618.46 million for the quarter, compared to analyst estimates of $604.00 million. Symbotic had a negative return on equity of 3.89% and a negative net margin of 0.75%.Symbotic’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.47 EPS. Equities research analysts predict that Symbotic will post 0.13 earnings per share for the current fiscal year.

Insider Transactions at Symbotic

In other Symbotic news, Director Merline Saintil sold 9,000 shares of the stock in a transaction on Friday, November 28th. The shares were sold at an average price of $84.72, for a total transaction of $762,480.00. Following the transaction, the director directly owned 68,413 shares of the company’s stock, valued at $5,795,949.36. This trade represents a 11.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Todd Krasnow sold 4,000 shares of Symbotic stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $71.00, for a total transaction of $284,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 7,085,508 shares of company stock worth $378,774,555 in the last ninety days. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Symbotic

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Symbotic in the third quarter valued at approximately $34,296,000. Amanah Holdings Trust purchased a new stake in Symbotic in the 2nd quarter valued at $19,824,000. Franklin Resources Inc. grew its holdings in Symbotic by 3,188.8% in the 3rd quarter. Franklin Resources Inc. now owns 274,155 shares of the company’s stock valued at $14,777,000 after buying an additional 265,819 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Symbotic in the 1st quarter worth $4,968,000. Finally, Handelsbanken Fonder AB raised its holdings in shares of Symbotic by 626.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 274,178 shares of the company’s stock worth $14,778,000 after acquiring an additional 236,435 shares during the period.

About Symbotic

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.