Symbotic (NASDAQ:SYM) PT Raised to $20.00

Symbotic (NASDAQ:SYMGet Rating) had its price target boosted by stock analysts at Deutsche Bank Aktiengesellschaft from $19.00 to $20.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 63.67% from the company’s current price.

Other equities analysts have also issued reports about the stock. Citigroup lowered their target price on shares of Symbotic from $21.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday. Needham & Company LLC lowered their target price on shares of Symbotic from $21.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday. Raymond James lifted their target price on shares of Symbotic from $18.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, August 2nd. The Goldman Sachs Group lowered their target price on shares of Symbotic from $19.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, October 11th. Finally, Northland Securities lifted their target price on shares of Symbotic from $16.00 to $20.00 in a report on Tuesday, August 2nd. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.42.

Symbotic Stock Up 13.5 %

Shares of SYM opened at $12.22 on Wednesday. Symbotic has a one year low of $8.75 and a one year high of $28.48. The business has a 50-day moving average of $11.63. The stock has a market capitalization of $676.01 million, a price-to-earnings ratio of -1.15 and a beta of 1.24.

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

Institutional Investors Weigh In On Symbotic

Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new stake in Symbotic in the 3rd quarter worth approximately $181,000. Alpha Paradigm Partners LLC bought a new stake in Symbotic in the 3rd quarter worth approximately $554,000. Tanaka Capital Management Inc. bought a new stake in Symbotic in the 3rd quarter worth approximately $805,000. Saba Capital Management L.P. grew its position in Symbotic by 458.4% in the 3rd quarter. Saba Capital Management L.P. now owns 2,791,828 shares of the company’s stock worth $27,779,000 after purchasing an additional 2,291,828 shares during the period. Finally, New York State Common Retirement Fund bought a new stake in Symbotic in the 3rd quarter worth approximately $225,000.

About Symbotic

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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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