Symbotic’s (SYM) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Symbotic (NASDAQ:SYM) in a report published on Thursday,Benzinga reports. They currently have a $60.00 target price on the stock.

A number of other research analysts also recently commented on the stock. UBS Group reduced their price objective on shares of Symbotic from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. BWS Financial reiterated a “sell” rating and issued a $10.00 price target on shares of Symbotic in a research note on Tuesday. TD Cowen boosted their price objective on Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $35.00 target price on shares of Symbotic in a report on Friday, January 17th. Finally, Northland Securities boosted their price target on Symbotic from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $38.73.

Symbotic Price Performance

NASDAQ:SYM opened at $33.50 on Thursday. Symbotic has a 1-year low of $17.11 and a 1-year high of $52.20. The firm has a 50-day moving average of $27.87 and a two-hundred day moving average of $27.42.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. The firm had revenue of $576.77 million during the quarter, compared to analyst estimates of $470.24 million. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. Symbotic’s quarterly revenue was up 47.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.08) EPS. On average, research analysts expect that Symbotic will post 0.13 EPS for the current year.

Insider Buying and Selling at Symbotic

In other Symbotic news, insider Michael David Dunn sold 13,114 shares of Symbotic stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $32.19, for a total transaction of $422,139.66. Following the sale, the insider now owns 18,746 shares of the company’s stock, valued at $603,433.74. The trade was a 41.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Todd Krasnow sold 2,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $24.04, for a total value of $48,080.00. Following the completion of the transaction, the director now directly owns 214,036 shares of the company’s stock, valued at approximately $5,145,425.44. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 117,993 shares of company stock valued at $3,490,555 in the last ninety days. Company insiders own 38.30% of the company’s stock.

Institutional Trading of Symbotic

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Intergy Private Wealth LLC acquired a new position in shares of Symbotic during the fourth quarter valued at approximately $310,000. Hunter Associates Investment Management LLC raised its stake in shares of Symbotic by 6.8% in the 4th quarter. Hunter Associates Investment Management LLC now owns 67,413 shares of the company’s stock worth $1,599,000 after buying an additional 4,320 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Symbotic in the 4th quarter worth $559,000. Bourne Lent Asset Management Inc. lifted its holdings in shares of Symbotic by 34.8% in the fourth quarter. Bourne Lent Asset Management Inc. now owns 87,210 shares of the company’s stock valued at $2,068,000 after buying an additional 22,500 shares during the period. Finally, MCF Advisors LLC acquired a new position in Symbotic during the fourth quarter worth about $85,000.

Symbotic Company Profile

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.