Northland Securities Issues Positive Forecast for Symbotic (NASDAQ:SYM) Stock Price

Symbotic (NASDAQ:SYM) had its target price hoisted by stock analysts at Northland Securities from $35.00 to $41.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Northland Securities’ target price indicates a potential upside of 28.85% from the company’s current price.

Several other equities research analysts also recently issued reports on the stock. Oppenheimer started coverage on shares of Symbotic in a research note on Wednesday. They issued an “outperform” rating and a $35.00 price objective on the stock. BWS Financial reissued a “sell” rating and set a $10.00 target price on shares of Symbotic in a research report on Tuesday, November 19th. KeyCorp reaffirmed a “sector weight” rating on shares of Symbotic in a report on Wednesday, November 27th. William Blair reiterated a “market perform” rating on shares of Symbotic in a research report on Thursday, December 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $35.00 price objective on shares of Symbotic in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.73.

Symbotic Trading Up 18.9 %

Shares of NASDAQ:SYM opened at $31.82 on Friday. The stock has a market capitalization of $18.69 billion, a PE ratio of -530.33 and a beta of 1.76. Symbotic has a 1 year low of $17.11 and a 1 year high of $52.20. The firm has a fifty day moving average price of $28.04 and a 200 day moving average price of $27.59.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, November 18th. The company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The business had revenue of $576.77 million for the quarter, compared to analyst estimates of $470.24 million. During the same quarter in the prior year, the firm posted ($0.08) EPS. The firm’s revenue for the quarter was up 47.2% on a year-over-year basis. On average, sell-side analysts forecast that Symbotic will post 0.12 earnings per share for the current fiscal year.

Insider Transactions at Symbotic

In other Symbotic news, Director Todd Krasnow sold 2,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $28.15, for a total value of $56,300.00. Following the completion of the sale, the director now owns 214,036 shares in the company, valued at approximately $6,025,113.40. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael David Dunn sold 63,867 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $30.08, for a total transaction of $1,921,119.36. Following the transaction, the insider now owns 24,055 shares in the company, valued at $723,574.40. The trade was a 72.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 111,844 shares of company stock valued at $3,268,431. Corporate insiders own 38.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Castleview Partners LLC increased its stake in shares of Symbotic by 50.0% in the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after buying an additional 500 shares during the period. Arcadia Investment Management Corp MI bought a new position in Symbotic in the third quarter valued at about $49,000. RiverPark Advisors LLC increased its position in Symbotic by 147.1% in the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock worth $50,000 after purchasing an additional 1,211 shares during the period. Quest Partners LLC raised its holdings in Symbotic by 19,307.7% during the 3rd quarter. Quest Partners LLC now owns 2,523 shares of the company’s stock worth $62,000 after purchasing an additional 2,510 shares during the last quarter. Finally, Quarry LP acquired a new position in Symbotic during the 2nd quarter valued at about $65,000.

Symbotic Company Profile

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.