Symbotic (NASDAQ:SYM) Price Target Raised to $48.00 at KeyCorp

Symbotic (NASDAQ:SYM - Get Free Report) had its target price boosted by investment analysts at KeyCorp from $40.00 to $48.00 in a report released on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. KeyCorp's price target would suggest a potential upside of 22.92% from the company's previous close.

SYM has been the topic of several other reports. Deutsche Bank Aktiengesellschaft raised their target price on Symbotic from $58.00 to $59.00 and gave the company a "buy" rating in a research report on Tuesday, July 30th. BWS Financial reaffirmed a "sell" rating and issued a $10.00 target price on shares of Symbotic in a research report on Friday, October 11th. TD Cowen lowered their price target on Symbotic from $55.00 to $43.00 and set a "buy" rating for the company in a research note on Tuesday, July 30th. Vertical Research began coverage on shares of Symbotic in a research report on Tuesday, July 23rd. They issued a "hold" rating and a $45.00 target price for the company. Finally, The Goldman Sachs Group cut their price target on shares of Symbotic from $40.00 to $30.00 and set a "neutral" rating on the stock in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $44.54.

Symbotic Stock Performance

Shares of SYM stock traded up $8.49 during trading hours on Tuesday, hitting $39.05. 9,810,711 shares of the company were exchanged, compared to its average volume of 1,608,623. The stock has a market capitalization of $22.87 billion, a price-to-earnings ratio of -209.47 and a beta of 1.81. Symbotic has a one year low of $17.11 and a one year high of $59.82. The business's 50-day simple moving average is $27.00 and its two-hundred day simple moving average is $31.09.

Symbotic (NASDAQ:SYM - Get Free Report) last posted its quarterly earnings results on Monday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. The business had revenue of $576.77 million for the quarter, compared to analyst estimates of $470.24 million. Symbotic had a positive return on equity of 4.08% and a negative net margin of 1.03%. The business's revenue was up 47.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.08) EPS. As a group, analysts anticipate that Symbotic will post -0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Michael David Dunn sold 5,266 shares of Symbotic stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $23.81, for a total transaction of $125,383.46. Following the completion of the sale, the insider now directly owns 85,224 shares of the company's stock, valued at $2,029,183.44. The trade was a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Todd Krasnow sold 2,000 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.75, for a total transaction of $37,500.00. Following the completion of the transaction, the director now directly owns 214,036 shares of the company's stock, valued at $4,013,175. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,878 shares of company stock valued at $1,378,056 in the last three months. Company insiders own 38.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SYM. Castleview Partners LLC boosted its holdings in shares of 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 buying an additional 500 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Symbotic during the third quarter worth $49,000. RiverPark Advisors LLC grew its holdings in shares of Symbotic by 147.1% during 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 last quarter. RFP Financial Group LLC lifted its holdings in Symbotic by 22.4% in the second quarter. RFP Financial Group LLC now owns 1,692 shares of the company's stock valued at $59,000 after buying an additional 310 shares during the period. Finally, Quest Partners LLC boosted its holdings in Symbotic by 19,307.7% in the third quarter. Quest Partners LLC now owns 2,523 shares of the company's stock worth $62,000 after acquiring an additional 2,510 shares in the last quarter.

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.