Symbotic (NASDAQ:SYM) Price Target Raised to $36.00 at DA Davidson

Symbotic (NASDAQ:SYM – Get Rating) had its price target boosted by DA Davidson from $30.00 to $36.00 in a report released on Wednesday morning, The Fly reports.

A number of other equities research analysts have also weighed in on the stock. Cantor Fitzgerald upped their target price on shares of Symbotic from $24.00 to $35.00 and gave the stock an overweight rating in a report on Thursday, April 20th. Northland Securities increased their price objective on shares of Symbotic from $30.00 to $35.00 in a research note on Monday. Needham & Company LLC increased their price objective on shares of Symbotic from $25.00 to $31.00 in a research note on Tuesday, May 2nd. Citigroup increased their price objective on shares of Symbotic from $16.00 to $32.00 and gave the company a buy rating in a research note on Monday, April 10th. Finally, Raymond James increased their price objective on shares of Symbotic from $23.00 to $35.00 in a research note on Tuesday, May 2nd. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $28.77.

Symbotic Price Performance

SYM stock opened at $32.20 on Wednesday. Symbotic has a 1 year low of $8.75 and a 1 year high of $32.44. The stock has a market capitalization of $17.89 billion, a PE ratio of -92.00 and a beta of 1.31. The company’s 50-day moving average is $25.91 and its 200-day moving average is $17.93.

Symbotic (NASDAQ:SYM – Get Rating) last posted its earnings results on Monday, May 1st. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). Symbotic had a negative return on equity of 78.17% and a negative net margin of 2.26%. The business had revenue of $266.85 million during the quarter, compared to analyst estimates of $224.82 million. During the same quarter in the prior year, the company earned ($5.61) EPS. The company’s revenue was up 177.2% on a year-over-year basis. On average, analysts anticipate that Symbotic will post -0.29 earnings per share for the current fiscal year.

Insider Transactions at Symbotic

In related news, insider Michael David Dunn sold 12,593 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $16.71, for a total value of $210,429.03. Following the completion of the transaction, the insider now directly owns 151,176 shares of the company’s stock, valued at approximately $2,526,150.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Michael David Dunn sold 12,593 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $16.71, for a total value of $210,429.03. Following the completion of the transaction, the insider now directly owns 151,176 shares of the company’s stock, valued at approximately $2,526,150.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rollin L. Ford acquired 8,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was acquired at an average cost of $24.70 per share, with a total value of $197,600.00. Following the completion of the acquisition, the director now owns 8,000 shares in the company, valued at approximately $197,600. The disclosure for this purchase can be found here. Insiders sold a total of 33,747 shares of company stock worth $635,409 in the last quarter. Insiders own 41.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Advisor Group Holdings Inc. boosted its holdings in Symbotic by 30.4% in the 4th quarter. Advisor Group Holdings Inc. now owns 4,299 shares of the company’s stock valued at $52,000 after purchasing an additional 1,002 shares during the period. JPMorgan Chase & Co. boosted its holdings in Symbotic by 1,412.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,512 shares of the company’s stock valued at $35,000 after purchasing an additional 1,412 shares during the period. Rockefeller Capital Management L.P. bought a new position in Symbotic in the 4th quarter valued at $29,000. Arcadia Investment Management Corp MI bought a new position in Symbotic in the 1st quarter valued at $58,000. Finally, Toronto Dominion Bank bought a new position in Symbotic in the 4th quarter valued at $36,000. 57.76% of the stock is owned by institutional investors.

Symbotic Company Profile

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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. The company offers Symbotic system, an end-to-end warehouse automation system for product distribution. It also designs, assemblies, and installs modular inventory management systems and performs configuration of embedded software.