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

Symbotic (NASDAQ:SYM - Get Free Report) had its target price increased by equities researchers at Northland Securities from $35.00 to $41.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Northland Securities' price target indicates a potential upside of 37.77% from the stock's current price.

SYM has been the subject of several other reports. KeyCorp restated a "sector weight" rating on shares of Symbotic in a report on Wednesday, November 27th. Citigroup reissued a "buy" rating and set a $37.00 target price on shares of Symbotic in a research note on Monday, January 13th. Oppenheimer started coverage on shares of Symbotic in a report on Wednesday. They set an "outperform" rating and a $35.00 target price on the stock. BWS Financial reiterated a "sell" rating and issued a $10.00 price target on shares of Symbotic in a report on Tuesday, November 19th. Finally, TD Cowen raised their price objective on shares of Symbotic from $43.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $38.73.

Symbotic Trading Down 6.5 %

Shares of NASDAQ:SYM traded down $2.06 during mid-day trading on Friday, reaching $29.76. The stock had a trading volume of 4,186,179 shares, compared to its average volume of 1,510,756. The firm has a 50 day simple moving average of $27.96 and a two-hundred day simple moving average of $27.49. Symbotic has a twelve month low of $17.11 and a twelve month high of $52.20. The firm has a market cap of $17.48 billion, a PE ratio of -496.00 and a beta of 1.76.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its earnings results on Monday, November 18th. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. The company had revenue of $576.77 million for the quarter, compared to analyst estimates of $470.24 million. During the same period last year, the business posted ($0.08) earnings per share. The business's revenue for the quarter was up 47.2% compared to the same quarter last year. On average, equities analysts anticipate that Symbotic will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Michael David Dunn sold 1,715 shares of the business's stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $28.77, for a total transaction of $49,340.55. Following the transaction, the insider now directly owns 87,922 shares of the company's stock, valued at approximately $2,529,515.94. The trade was a 1.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Todd Krasnow sold 2,000 shares of the firm's stock in a transaction 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 sale, the director now directly owns 214,036 shares of the company's stock, valued at $5,145,425.44. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,844 shares of company stock worth $3,268,431. Insiders own 38.30% of the company's stock.

Hedge Funds Weigh In On Symbotic

Institutional investors and hedge funds have recently made changes to their positions in the company. Castleview Partners LLC increased its stake in Symbotic by 50.0% during the 3rd quarter. Castleview Partners LLC now owns 1,500 shares of the company's stock worth $37,000 after acquiring an additional 500 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in shares of Symbotic during the 3rd quarter worth $49,000. RiverPark Advisors LLC increased its position in shares of Symbotic by 147.1% in the third quarter. RiverPark Advisors LLC now owns 2,034 shares of the company's stock worth $50,000 after purchasing an additional 1,211 shares during the period. Quest Partners LLC raised its stake in Symbotic by 19,307.7% in the third quarter. Quest Partners LLC now owns 2,523 shares of the company's stock valued at $62,000 after purchasing an additional 2,510 shares in the last quarter. Finally, Quarry LP bought a new stake in Symbotic during the second quarter worth about $65,000.

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.