The Goldman Sachs Group Lowers Symbotic (NASDAQ:SYM) Price Target to $44.00

Symbotic (NASDAQ:SYMGet Free Report) had its price target dropped by stock analysts at The Goldman Sachs Group from $51.00 to $44.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 12.02% from the stock’s previous close.

SYM has been the subject of a number of other reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $60.00 price target on shares of Symbotic in a report on Tuesday. Needham & Company LLC lowered their price target on Symbotic from $58.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday. KeyCorp lowered their price target on Symbotic from $63.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, William Blair reiterated a “market perform” rating on shares of Symbotic in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Symbotic has a consensus rating of “Moderate Buy” and an average target price of $52.85.

Get Our Latest Report on SYM

Symbotic Stock Up 3.6 %

Shares of SYM opened at $39.28 on Tuesday. The business’s 50 day moving average is $47.83 and its two-hundred day moving average is $42.67. Symbotic has a 52-week low of $14.14 and a 52-week high of $64.14. The firm has a market cap of $21.89 billion, a price-to-earnings ratio of -145.48 and a beta of 2.02.

Symbotic (NASDAQ:SYMGet Free Report) last issued its quarterly earnings results on Monday, November 20th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). Symbotic had a negative net margin of 1.39% and a negative return on equity of 138.28%. The firm had revenue of $391.89 million during the quarter, compared to the consensus estimate of $306.89 million. During the same quarter last year, the firm posted ($0.10) earnings per share. Symbotic’s revenue was up 60.3% compared to the same quarter last year. On average, equities analysts expect that Symbotic will post -0.02 earnings per share for the current fiscal year.

Insider Transactions at Symbotic

In other news, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $51.50, for a total value of $103,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Todd Krasnow sold 2,000 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $51.50, for a total transaction of $103,000.00. The sale 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 the company’s stock in a transaction on 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 sale, 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. Over the last quarter, insiders sold 493,306 shares of company stock valued at $24,290,258. 38.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Symbotic

Several hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp acquired a new stake in Symbotic during the 4th quarter valued at $26,000. Rockefeller Capital Management L.P. acquired a new stake in Symbotic during the 4th quarter valued at $29,000. Providence Capital Advisors LLC acquired a new stake in Symbotic during the 3rd quarter valued at $33,000. National Bank of Canada FI increased its holdings in Symbotic by 66.7% during the 3rd quarter. National Bank of Canada FI now owns 1,000 shares of the company’s stock valued at $35,000 after purchasing an additional 400 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Symbotic by 1,412.0% during 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 in 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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