Symbotic (NASDAQ:SYM) PT Lowered to $52.00 at Robert W. Baird

Symbotic (NASDAQ:SYMFree Report) had its price target cut by Robert W. Baird from $54.00 to $52.00 in a research note released on Tuesday, Benzinga reports. They currently have an outperform rating on the stock.

SYM has been the subject of a number of other reports. William Blair reissued a market perform rating on shares of Symbotic in a research report on Tuesday. Cantor Fitzgerald reissued an overweight rating and set a $60.00 price target on shares of Symbotic in a research report on Tuesday. KeyCorp reduced their price target on shares of Symbotic from $63.00 to $55.00 and set an overweight rating for the company in a research report on Tuesday. The Goldman Sachs Group reduced their price target on shares of Symbotic from $51.00 to $44.00 and set a neutral rating for the company in a research report on Tuesday. Finally, Needham & Company LLC reduced their price target on shares of Symbotic from $58.00 to $54.00 and set a buy rating for the company in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $52.85.

Read Our Latest Report on Symbotic

Symbotic Trading Down 23.6 %

NASDAQ SYM opened at $37.91 on Tuesday. Symbotic has a 12 month low of $14.14 and a 12 month high of $64.14. The company’s 50-day moving average price is $48.47 and its 200-day moving average price is $42.73. The stock has a market cap of $21.12 billion, a PE ratio of -140.41 and a beta of 2.02.

Symbotic (NASDAQ:SYMGet Free Report) last released its quarterly earnings results on Monday, November 20th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.02). The firm had revenue of $391.89 million for the quarter, compared to analysts’ expectations of $306.89 million. Symbotic had a negative net margin of 1.39% and a negative return on equity of 138.28%. The business’s quarterly revenue was up 60.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.10) earnings per share. As a group, sell-side analysts forecast that Symbotic will post -0.02 earnings per share for the current year.

Insider Activity at Symbotic

In related news, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $50.49, for a total value of $100,980.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Symbotic news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $50.49, for a total value of $100,980.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder David A. Ladensohn sold 20,000 shares of Symbotic stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $58.48, for a total value of $1,169,600.00. Following the completion of the transaction, the insider now directly owns 15,000 shares of the company’s stock, valued at $877,200. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 491,306 shares of company stock worth $24,187,258. Company insiders own 38.30% of the company’s stock.

Institutional Investors Weigh In On Symbotic

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. lifted its stake in Symbotic by 176.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 75,527 shares of the company’s stock valued at $2,525,000 after buying an additional 48,214 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Symbotic during the third quarter worth approximately $1,101,000. Jump Financial LLC raised its stake in shares of Symbotic by 250.2% during the third quarter. Jump Financial LLC now owns 97,360 shares of the company’s stock worth $3,255,000 after purchasing an additional 69,560 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Symbotic by 25.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 714,897 shares of the company’s stock worth $30,520,000 after purchasing an additional 144,668 shares during the last quarter. Finally, Raymond James & Associates raised its stake in shares of Symbotic by 19.5% during the third quarter. Raymond James & Associates now owns 502,488 shares of the company’s stock worth $16,798,000 after purchasing an additional 82,116 shares during the last quarter.

Symbotic Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Symbotic (NASDAQ:SYM)

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