Symbotic (NASDAQ:SYM) Price Target Raised to $41.00

Symbotic (NASDAQ:SYM) had its price target increased by analysts at Northland Securities from $35.00 to $41.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Northland Securities’ target price points to a potential upside of 28.85% from the stock’s previous close.

Several other equities research analysts also recently commented on SYM. Citigroup reaffirmed a “buy” rating and issued a $37.00 target price on shares of Symbotic in a research note on Monday. DA Davidson upgraded shares of Symbotic from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Wednesday, January 8th. UBS Group reduced their target price on Symbotic from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. TD Cowen increased their price target on Symbotic from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, The Goldman Sachs Group dropped their price target on Symbotic from $34.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.73.

Symbotic Stock Up 18.9 %

NASDAQ:SYM opened at $31.82 on Friday. Symbotic has a 12-month low of $17.11 and a 12-month high of $52.20. The stock’s fifty day simple moving average is $28.04 and its 200-day simple moving average is $27.59. The firm has a market capitalization of $18.69 billion, a P/E ratio of -530.33 and a beta of 1.76.

Symbotic (NASDAQ:SYM) last issued its earnings results on Monday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. The firm had revenue of $576.77 million for the quarter, compared to analysts’ expectations of $470.24 million. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. The company’s revenue was up 47.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.08) earnings per share. As a group, equities research analysts expect that Symbotic will post 0.12 earnings per share for the current year.

Insiders Place Their Bets

In other Symbotic news, CFO Carol J. Hibbard sold 22,821 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total transaction of $660,896.16. Following the transaction, the chief financial officer now owns 34,188 shares of the company’s stock, valued at $990,084.48. The trade was a 40.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Todd Krasnow sold 2,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $24.04, for a total value of $48,080.00. Following the completion of the sale, 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 have sold 111,844 shares of company stock valued at $3,268,431 in the last three months. 38.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Bouvel Investment Partners LLC acquired a new stake in Symbotic in the 4th quarter valued at about $1,056,000. Armstrong Advisory Group Inc. raised its stake in Symbotic by 122.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 11,782 shares of the company’s stock valued at $279,000 after buying an additional 6,479 shares during the period. 180 Wealth Advisors LLC lifted its position in shares of Symbotic by 5.6% in the fourth quarter. 180 Wealth Advisors LLC now owns 38,621 shares of the company’s stock valued at $916,000 after buying an additional 2,063 shares during the last quarter. Capital Market Strategies LLC bought a new position in shares of Symbotic during the 4th quarter worth approximately $802,000. Finally, 1ST Source Bank acquired a new position in shares of Symbotic during the 3rd quarter worth approximately $488,000.

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.