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

Shares of Symbotic Inc. (NASDAQ:SYM) have earned an average recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $55.69.

A number of equities analysts have issued reports on the company. The Goldman Sachs Group lowered their target price on Symbotic from $51.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $60.00 price target on shares of Symbotic in a research note on Tuesday, February 6th. Craig Hallum increased their price objective on Symbotic from $55.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday. William Blair reiterated a “market perform” rating on shares of Symbotic in a research report on Tuesday, February 6th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Symbotic from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday.

Insider Buying and Selling

In other Symbotic news, major shareholder David A. Ladensohn sold 2,085,296 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $39.69, for a total value of $82,765,398.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder David A. Ladensohn sold 2,085,296 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $39.69, for a total value of $82,765,398.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael David Dunn sold 1,747 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $40.08, for a total value of $70,019.76. Following the completion of the sale, the insider now directly owns 74,032 shares in the company, valued at $2,967,202.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,110,447 shares of company stock worth $275,410,529. Insiders own 38.30% of the company’s stock.

Hedge Funds Weigh In On Symbotic

A number of hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp bought a new position in shares of Symbotic during the 4th quarter valued at about $26,000. Providence Capital Advisors LLC purchased a new stake in Symbotic in the third quarter worth about $33,000. RiverPark Advisors LLC bought a new stake in shares of Symbotic in the 1st quarter valued at about $37,000. Global Retirement Partners LLC boosted its stake in shares of Symbotic by 166.7% during the first quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock valued at $48,000 after purchasing an additional 660 shares in the last quarter. Finally, Pingora Partners LLC purchased a new position in Symbotic during the fourth quarter valued at approximately $51,000.

Symbotic Trading Down 7.5 %

NASDAQ SYM opened at $44.75 on Friday. The company has a market cap of $25.82 billion, a PE ratio of -165.74 and a beta of 1.97. Symbotic has a 12 month low of $23.58 and a 12 month high of $64.14. The stock has a 50 day moving average of $43.40 and a 200-day moving average of $44.25.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, February 5th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $368.45 million for the quarter, compared to analyst estimates of $370.28 million. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. As a group, sell-side analysts predict that Symbotic will post -0.03 EPS for the current fiscal year.

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.