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

Symbotic Inc. (NASDAQ:SYM) has earned a consensus rating of “Hold” from the sixteen analysts that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $65.6154.

Several analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Symbotic in a report on Tuesday, April 21st. UBS Group set a $70.00 target price on shares of Symbotic in a report on Wednesday, February 18th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $50.00 target price on shares of Symbotic in a report on Thursday, January 15th. Wall Street Zen downgraded shares of Symbotic from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Needham & Company LLC lifted their target price on shares of Symbotic from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, February 5th.

Symbotic News Roundup

Here are the key news stories impacting Symbotic this week:

• Positive Sentiment: DA Davidson reaffirmed its Buy rating on Symbotic and kept a $70 price target, implying meaningful upside from recent levels and signaling continued analyst confidence in the company’s automation growth story. Benzinga report on DA Davidson rating
• Positive Sentiment: News that Walmart is keeping its stakes in Symbotic amid a broader store revamp supports the bull case, since Walmart remains a key strategic customer and partner for Symbotic’s warehouse automation platform. MSN article on Walmart stakes
• Neutral Sentiment: Several articles focused on a value comparison between Symbotic and other stocks, which is more commentary than a direct business development, so it is unlikely to move the shares on its own. Zacks comparison article
• Neutral Sentiment: Short-interest data showed 0 reported shares, which does not currently suggest a meaningful bearish catalyst from the short side. American Banking News short-interest item
• Negative Sentiment: Recent market commentary noted Symbotic shares were already down sharply before today’s news flow, suggesting sentiment remains cautious despite the bullish analyst and Walmart headlines. American Banking News share decline article

Symbotic Price Performance

Symbotic stock opened at $51.71 on Tuesday. The firm has a market capitalization of $31.14 billion, a PE ratio of -1,033.99, a P/E/G ratio of 5.24 and a beta of 2.03. The company’s 50-day moving average is $54.65 and its 200-day moving average is $60.37. Symbotic has a fifty-two week low of $24.80 and a fifty-two week high of $87.88.

Symbotic (NASDAQ:SYM) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.11). The firm had revenue of $676.48 million for the quarter, compared to analyst estimates of $662.66 million. Symbotic had a negative return on equity of 0.68% and a negative net margin of 0.20%.The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. As a group, analysts expect that Symbotic will post 0.33 EPS for the current year.

Insider Buying and Selling at Symbotic

In related news, insider William M. Boyd III sold 9,194 shares of Symbotic stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $58.75, for a total transaction of $540,147.50. Following the completion of the sale, the insider owned 62,227 shares of the company’s stock, valued at approximately $3,655,836.25. The trade was a 12.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles Kane sold 2,000 shares of Symbotic stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $58.26, for a total transaction of $116,520.00. Following the sale, the director directly owned 89,852 shares of the company’s stock, valued at $5,234,777.52. The trade was a 2.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 157,581 shares of company stock worth $9,113,457 in the last ninety days. Insiders own 8.16% of the company’s stock.

Institutional Trading of Symbotic

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Symbotic by 47.6% in the 4th quarter. Vanguard Group Inc. now owns 6,932,158 shares of the company’s stock valued at $412,463,000 after purchasing an additional 2,237,137 shares during the period. Morgan Stanley boosted its holdings in Symbotic by 85.4% in the 4th quarter. Morgan Stanley now owns 2,530,874 shares of the company’s stock valued at $150,587,000 after purchasing an additional 1,165,513 shares during the period. JPMorgan Chase & Co. boosted its holdings in Symbotic by 51,346.1% in the 4th quarter. JPMorgan Chase & Co. now owns 2,174,372 shares of the company’s stock valued at $129,375,000 after purchasing an additional 2,178,615 shares during the period. UBS Group AG boosted its holdings in Symbotic by 22.3% in the 3rd quarter. UBS Group AG now owns 1,105,770 shares of the company’s stock valued at $59,601,000 after purchasing an additional 201,547 shares during the period. Finally, Ghisallo Capital Management LLC bought a new stake in Symbotic in the 4th quarter valued at about $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.