Symbotic (NASDAQ:SYM – Get Rating) had its price target cut by stock analysts at The Goldman Sachs Group from $13.00 to $10.00 in a research note issued to investors on Wednesday, MarketBeat reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential downside of 18.17% from the stock’s previous close.
Several other equities analysts have also issued reports on SYM. Deutsche Bank Aktiengesellschaft lifted their price target on Symbotic from $19.00 to $20.00 in a research note on Wednesday. Raymond James lifted their price target on Symbotic from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, August 2nd. UBS Group initiated coverage on Symbotic in a research note on Monday, September 19th. They issued a “buy” rating and a $17.00 price target on the stock. Robert W. Baird set a $18.00 price target on Symbotic in a research note on Tuesday. Finally, Northland Securities lifted their price target on Symbotic from $16.00 to $20.00 in a research note on Tuesday, August 2nd. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.42.
Symbotic Price Performance
Shares of NASDAQ SYM opened at $12.22 on Wednesday. The firm has a market cap of $676.01 million, a PE ratio of -1.15 and a beta of 1.24. The firm has a fifty day moving average of $11.63. Symbotic has a fifty-two week low of $8.75 and a fifty-two week high of $28.48.
Institutional Investors Weigh In On Symbotic
A number of hedge funds and other institutional investors have recently bought and sold shares of SYM. Altshuler Shaham Ltd bought a new stake in Symbotic during the 3rd quarter worth $50,000. Bank of New York Mellon Corp bought a new stake in shares of Symbotic in the 3rd quarter valued at about $181,000. UBS Group AG bought a new stake in shares of Symbotic in the 3rd quarter valued at about $224,000. New York State Common Retirement Fund bought a new stake in shares of Symbotic in the 3rd quarter valued at about $225,000. Finally, Raymond James & Associates bought a new stake in shares of Symbotic in the 3rd quarter valued at about $267,000.
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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