Symbotic (NASDAQ:SYM – Get 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.
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
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)
- Salesforce Cuts Labor, Shows Strong Earnings Despite Challenges
- Microsoft Shares: Is it Time to Back Up the Truck?
- Institutional Support for Analog Devices Remains High
- Is the 60/40 Portfolio Mix Still in Vogue?
- Three CBD Stocks to Dominate a Budding Industry
Receive News & Ratings for Symbotic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Symbotic and related companies with MarketBeat.com's FREE daily email newsletter.