Symbotic Inc. (NASDAQ:SYM) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Symbotic Inc. (NASDAQ:SYM) have earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $52.85.

A number of equities analysts have recently commented on SYM shares. Needham & Company LLC cut their target price on shares of Symbotic from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. DA Davidson raised shares of Symbotic from a “neutral” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Wednesday, February 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $60.00 price objective on shares of Symbotic in a research note on Tuesday, February 6th. Robert W. Baird lowered their price target on shares of Symbotic from $54.00 to $52.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 6th. Finally, William Blair reaffirmed a “market perform” rating on shares of Symbotic in a research note on Tuesday, February 6th.

Insider Buying and Selling

In other Symbotic news, insider Richard B. Cohen sold 5,000,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $38.32, for a total value of $191,600,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Symbotic news, insider Richard B. Cohen sold 5,000,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $38.32, for a total value of $191,600,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael David Dunn sold 76,078 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $46.61, for a total transaction of $3,545,995.58. Following the completion of the transaction, the insider now owns 99,956 shares in the company, valued at $4,658,949.16. The disclosure for this sale can be found here. Insiders have sold 7,328,104 shares of company stock worth $285,346,932 in the last three months. Corporate insiders own 38.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Van ECK Associates Corp acquired a new stake in Symbotic during the 4th quarter worth approximately $26,000. Rockefeller Capital Management L.P. acquired a new stake in Symbotic in the fourth quarter valued at approximately $29,000. Providence Capital Advisors LLC acquired a new stake in Symbotic in the third quarter valued at approximately $33,000. National Bank of Canada FI grew its position in Symbotic by 66.7% in the third quarter. National Bank of Canada FI now owns 1,000 shares of the company’s stock valued at $35,000 after acquiring an additional 400 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Symbotic by 1,412.0% in the first quarter. JPMorgan Chase & Co. now owns 1,512 shares of the company’s stock valued at $35,000 after acquiring an additional 1,412 shares in the last quarter.

Symbotic Price Performance

Shares of Symbotic stock opened at $45.23 on Thursday. The firm’s fifty day simple moving average is $43.76 and its 200-day simple moving average is $42.78. The stock has a market capitalization of $26.10 billion, a price-to-earnings ratio of -167.52 and a beta of 1.90. Symbotic has a 12 month low of $20.70 and a 12 month high of $64.14.

Symbotic (NASDAQ:SYM) last announced its earnings results on Monday, February 5th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The business had revenue of $368.45 million for the quarter, compared to analysts’ expectations of $370.28 million. Symbotic had a negative net margin of 1.39% and a negative return on equity of 35.06%. Analysts anticipate that Symbotic will post -0.02 earnings per share for the current year.

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.