Symbotic Inc. (NASDAQ:SYM – Get Rating) has been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $20.60.
Several research analysts have commented on the company. Cantor Fitzgerald assumed coverage on Symbotic in a research note on Wednesday, July 20th. They issued an “overweight” rating and a $24.00 target price for the company. Cowen assumed coverage on Symbotic in a research note on Tuesday, June 21st. They issued an “outperform” rating and a $18.00 target price for the company. Northland Securities raised their target price on Symbotic from $16.00 to $20.00 in a research note on Tuesday, August 2nd. Cowen began coverage on Symbotic in a research note on Tuesday, June 21st. They issued an “outperform” rating and a $18.00 target price for the company. Finally, Robert W. Baird raised their price target on Symbotic from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, August 2nd.
Insider Activity at Symbotic
In related news, insider Michael David Dunn sold 34,436 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $13.19, for a total transaction of $454,210.84. Following the transaction, the insider now directly owns 199,964 shares of the company’s stock, valued at approximately $2,637,525.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 98,334 shares of company stock valued at $1,352,282.
Hedge Funds Weigh In On Symbotic
Symbotic Stock Down 2.7 %
SYM stock opened at $13.03 on Friday. Symbotic has a fifty-two week low of $9.01 and a fifty-two week high of $28.48. The business’s fifty day moving average price is $15.33.
Symbotic (NASDAQ:SYM – Get Rating) last posted its quarterly earnings results on Monday, August 1st. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02. The firm had revenue of $175.55 million for the quarter, compared to the consensus estimate of $119.88 million. On average, equities analysts forecast that Symbotic will post -0.22 EPS for the current year.
Symbotic Inc, an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. It offers The Symbotic System, a full-service warehouse automation system that reduces costs, improves efficiency, and maximizes inventory. The company is based in Wilmington, Massachusetts.
- Get a free copy of the StockNews.com research report on Symbotic (SYM)
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