Symbotic (NASDAQ:SYM) Given a $18.00 Price Target at Robert W. Baird

Symbotic (NASDAQ:SYMGet Rating) received a $18.00 target price from investment analysts at Robert W. Baird in a research report issued on Tuesday, The Fly reports. Robert W. Baird’s price target suggests a potential upside of 47.30% from the stock’s current price.

Several other research analysts have also issued reports on SYM. Raymond James raised their target price on Symbotic from $18.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 2nd. Needham & Company LLC lowered their price objective on Symbotic from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday. Citigroup lowered their price objective on Symbotic from $21.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price objective on Symbotic from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Finally, The Goldman Sachs Group lowered their price objective on Symbotic from $19.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, October 11th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.42.

Symbotic Stock Up 13.5 %

NASDAQ:SYM traded up $1.45 during trading hours on Tuesday, hitting $12.22. 398,968 shares of the company were exchanged, compared to its average volume of 159,688. The company has a market cap of $676.01 million, a PE ratio of -1.15 and a beta of 1.24. Symbotic has a one year low of $8.75 and a one year high of $28.48. The business’s fifty day moving average is $11.65.

Symbotic (NASDAQ:SYMGet Rating) last announced its earnings results on Monday, November 21st. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. Symbotic had a negative return on equity of 558.47% and a negative net margin of 10.08%. On average, research analysts anticipate that Symbotic will post -0.01 EPS for the current year.

Institutional Trading of Symbotic

Large investors have recently made changes to their positions in the company. SB Global Advisers Ltd acquired a new position in Symbotic during the 2nd quarter valued at about $219,400,000. Saba Capital Management L.P. boosted its stake in Symbotic by 458.4% during the 3rd quarter. Saba Capital Management L.P. now owns 2,791,828 shares of the company’s stock valued at $27,779,000 after purchasing an additional 2,291,828 shares during the last quarter. Navis Wealth Advisors LLC boosted its stake in Symbotic by 2.6% during the 3rd quarter. Navis Wealth Advisors LLC now owns 754,698 shares of the company’s stock valued at $8,679,000 after purchasing an additional 19,310 shares during the last quarter. BlackRock Inc. boosted its stake in Symbotic by 325.5% during the 3rd quarter. BlackRock Inc. now owns 170,213 shares of the company’s stock valued at $1,958,000 after purchasing an additional 130,213 shares during the last quarter. Finally, Vanguard Group Inc. purchased a new position in shares of Symbotic in the 3rd quarter worth approximately $1,523,000.

Symbotic Company Profile

(Get Rating)

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.

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Analyst Recommendations for Symbotic (NASDAQ:SYM)

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