Symbotic (NASDAQ:SYM) Stock Rating Reaffirmed by BWS Financial

BWS Financial restated their sell rating on shares of Symbotic (NASDAQ:SYM) in a report published on Tuesday morning, Benzinga reports. BWS Financial currently has a $10.00 target price on the stock. BWS Financial also issued estimates for Symbotic’s FY2024 earnings at ($0.06) EPS and FY2025 earnings at $0.43 EPS.

Other equities research analysts also recently issued research reports about the company. William Blair reissued a market perform rating on shares of Symbotic in a report on Friday, May 10th. Needham & Company LLC reduced their target price on Symbotic from $54.00 to $40.00 and set a buy rating for the company in a report on Tuesday. The Goldman Sachs Group reduced their target price on Symbotic from $46.00 to $40.00 and set a neutral rating for the company in a report on Wednesday, July 10th. Citigroup reduced their target price on Symbotic from $62.00 to $49.00 and set a buy rating for the company in a report on Tuesday. Finally, Cantor Fitzgerald reissued an overweight rating and issued a $60.00 target price on shares of Symbotic in a report on Tuesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $43.23.

Symbotic Price Performance

Shares of NASDAQ SYM opened at $23.70 on Tuesday. The stock has a fifty day moving average price of $36.25 and a 200 day moving average price of $40.82. Symbotic has a 1-year low of $22.54 and a 1-year high of $62.37. The company has a market cap of $13.86 billion, a PE ratio of -98.75 and a beta of 1.86.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings results on Monday, July 29th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). Symbotic had a positive return on equity of 5.05% and a negative net margin of 1.03%. The company had revenue of $491.86 million for the quarter, compared to analyst estimates of $464.56 million. During the same period in the prior year, the business earned ($0.07) earnings per share. Symbotic’s revenue for the quarter was up 57.7% compared to the same quarter last year. Analysts anticipate that Symbotic will post -0.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder David A. Ladensohn sold 50,000 shares of Symbotic stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $40.89, for a total transaction of $2,044,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Symbotic news, insider Michael David Dunn sold 1,200 shares of Symbotic stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $44.02, for a total value of $52,824.00. Following the completion of the sale, the insider now owns 70,832 shares in the company, valued at approximately $3,118,024.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder David A. Ladensohn sold 50,000 shares of Symbotic stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $40.89, for a total value of $2,044,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 150,107 shares of company stock worth $5,950,707. 38.30% of the stock is owned by corporate insiders.

Institutional Trading of Symbotic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in Symbotic during the 4th quarter worth approximately $136,000. Stonegate Investment Group LLC purchased a new stake in Symbotic during the 4th quarter worth approximately $318,000. Colonial River Wealth Management LLC purchased a new stake in Symbotic during the 4th quarter worth approximately $232,000. Arizona State Retirement System purchased a new stake in Symbotic during the 4th quarter worth approximately $232,000. Finally, TFC Financial Management Inc. increased its holdings in Symbotic by 97.1% during the 4th quarter. TFC Financial Management Inc. now owns 1,226 shares of the company’s stock worth $63,000 after purchasing an additional 604 shares during the last quarter.

About Symbotic

Symbotic Inc, an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. The company automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Its systems enhance operations at the front end of the supply chain.