Symbotic (NASDAQ:SYM) Stock Price Expected to Rise, DA Davidson Analyst Says

Symbotic (NASDAQ:SYM) had its price objective boosted by DA Davidson from $47.00 to $50.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. DA Davidson’s price target would suggest a potential upside of 101.61% from the company’s current price.

SYM has been the topic of a number of other reports. The Goldman Sachs Group lowered their price objective on shares of Symbotic from $40.00 to $30.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price target on Symbotic from $58.00 to $59.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. BWS Financial reaffirmed a “sell” rating and set a $10.00 price target on shares of Symbotic in a research note on Tuesday, November 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $60.00 price target on shares of Symbotic in a research note on Tuesday, November 19th. Finally, KeyCorp lifted their price target on Symbotic from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Symbotic has a consensus rating of “Moderate Buy” and a consensus price target of $45.08.

Symbotic Trading Down 33.7 %

Shares of SYM stock opened at $24.80 on Monday. The company’s 50-day moving average price is $28.98 and its 200-day moving average price is $30.82. The stock has a market cap of $14.52 billion, a price-to-earnings ratio of -623.50 and a beta of 1.81. Symbotic has a twelve month low of $17.11 and a twelve month high of $59.82.

Symbotic (NASDAQ:SYM) last posted its earnings results on Monday, November 18th. The company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. The company had revenue of $576.77 million for the quarter, compared to analysts’ expectations of $470.24 million. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.54%. Symbotic’s revenue for the quarter was up 47.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.08) earnings per share. As a group, equities research analysts predict that Symbotic will post 0.2 EPS for the current year.

Insider Activity at Symbotic

In related news, CFO Carol J. Hibbard sold 22,821 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total value of $660,896.16. Following the completion of the sale, the chief financial officer now directly owns 34,188 shares of the company’s stock, valued at approximately $990,084.48. This represents a 40.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William M. Boyd III sold 8,826 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $28.33, for a total value of $250,040.58. Following the transaction, the insider now directly owns 23,012 shares in the company, valued at approximately $651,929.96. This represents a 27.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,878 shares of company stock worth $1,378,056 in the last quarter. 38.30% of the stock is owned by company insiders.

Institutional Trading of Symbotic

Several institutional investors have recently modified their holdings of the company. Castleview Partners LLC raised its position in Symbotic by 50.0% in the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock valued at $37,000 after purchasing an additional 500 shares during the last quarter. RFP Financial Group LLC raised its position in Symbotic by 22.4% in the 2nd quarter. RFP Financial Group LLC now owns 1,692 shares of the company’s stock valued at $59,000 after purchasing an additional 310 shares during the last quarter. Quarry LP bought a new position in Symbotic in the 2nd quarter valued at $65,000. Arcadia Investment Management Corp MI bought a new position in Symbotic in the 3rd quarter valued at $49,000. Finally, RiverPark Advisors LLC raised its position in Symbotic by 147.1% in the 3rd quarter. RiverPark Advisors LLC now owns 2,034 shares of the company’s stock valued at $50,000 after purchasing an additional 1,211 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.