Symbotic (NASDAQ:SYM) PT Lowered to $55.00

Symbotic (NASDAQ:SYMFree Report) had its price objective trimmed by KeyCorp from $63.00 to $55.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms have also recently issued reports on SYM. Needham & Company LLC decreased their price target on Symbotic from $58.00 to $54.00 and set a buy rating for the company in a research note on Tuesday. Cantor Fitzgerald reissued an overweight rating and issued a $60.00 price target on shares of Symbotic in a research note on Tuesday, November 21st. Finally, The Goldman Sachs Group increased their price target on Symbotic from $36.00 to $40.00 and gave the stock a neutral rating in a research note on Tuesday, November 21st. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $52.85.

View Our Latest Stock Analysis on Symbotic

Symbotic Price Performance

Shares of SYM opened at $37.91 on Tuesday. The company has a market cap of $21.12 billion, a P/E ratio of -140.41 and a beta of 2.02. The stock has a fifty day moving average price of $48.47 and a 200 day moving average price of $42.73. Symbotic has a 12 month low of $14.14 and a 12 month high of $64.14.

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

Insider Buying and Selling

In other news, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $50.49, for a total transaction of $100,980.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, 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 transaction of $1,169,600.00. Following the sale, the insider now directly owns 15,000 shares in the company, valued at approximately $877,200. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $50.49, for a total transaction of $100,980.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 491,306 shares of company stock valued at $24,187,258. Corporate insiders own 38.30% of the company’s stock.

Hedge Funds Weigh In On Symbotic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SYM. PNC Financial Services Group Inc. raised its stake in shares of Symbotic by 23.2% in the second quarter. PNC Financial Services Group Inc. now owns 1,232 shares of the company’s stock worth $53,000 after acquiring an additional 232 shares during the last quarter. RFP Financial Group LLC raised its stake in shares of Symbotic by 46.1% in the second quarter. RFP Financial Group LLC now owns 954 shares of the company’s stock worth $41,000 after acquiring an additional 301 shares during the last quarter. Taylor Frigon Capital Management LLC raised its stake in shares of Symbotic by 0.5% in the third quarter. Taylor Frigon Capital Management LLC now owns 63,576 shares of the company’s stock worth $2,125,000 after acquiring an additional 336 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Symbotic by 3.0% in the third quarter. California State Teachers Retirement System now owns 13,641 shares of the company’s stock worth $456,000 after acquiring an additional 399 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Symbotic by 66.7% in the third quarter. National Bank of Canada FI now owns 1,000 shares of the company’s stock worth $35,000 after acquiring an additional 400 shares during the last quarter.

About Symbotic

(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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