Symbotic (NASDAQ:SYM) Given New $60.00 Price Target at Craig Hallum

Symbotic (NASDAQ:SYM) had its price target lifted by Craig Hallum from $55.00 to $60.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also commented on SYM. Needham & Company LLC reiterated a buy rating and issued a $54.00 price objective on shares of Symbotic in a research report on Tuesday. William Blair reaffirmed a market perform rating on shares of Symbotic in a report on Tuesday, February 6th. Northland Securities raised their price objective on shares of Symbotic from $55.00 to $60.00 and gave the stock an outperform rating in a research note on Wednesday, April 10th. The Goldman Sachs Group reduced their target price on Symbotic from $51.00 to $44.00 and set a neutral rating on the stock in a research note on Tuesday, February 6th. Finally, Cantor Fitzgerald reissued an overweight rating and set a $60.00 price target on shares of Symbotic in a research report on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Symbotic has an average rating of Moderate Buy and a consensus target price of $55.69.

Symbotic Trading Down 0.2 %

SYM stock opened at $48.25 on Wednesday. The firm has a 50 day moving average of $43.30 and a 200-day moving average of $44.25. The company has a market cap of $27.84 billion, a price-to-earnings ratio of -179.11 and a beta of 1.97. Symbotic has a 12-month low of $23.58 and a 12-month high of $64.14.

Symbotic (NASDAQ:SYM) last issued its quarterly earnings data on Monday, February 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. The firm had revenue of $368.45 million during the quarter, compared to analysts’ expectations of $370.28 million. Symbotic had a negative return on equity of 35.06% and a negative net margin of 1.39%. Sell-side analysts forecast that Symbotic will post -0.03 earnings per share for the current fiscal year.

Insider Transactions at Symbotic

In related news, Director Todd Krasnow sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $39.39, for a total value of $78,780.00. Following the completion of the sale, the director now directly owns 10,447 shares in the company, valued at $411,507.33. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Michael David Dunn sold 1,747 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $40.08, for a total value of $70,019.76. Following the transaction, the insider now directly owns 74,032 shares in the company, valued at approximately $2,967,202.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Todd Krasnow sold 2,000 shares of Symbotic stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $39.39, for a total value of $78,780.00. Following the completion of the transaction, the director now directly owns 10,447 shares in the company, valued at $411,507.33. The disclosure for this sale can be found here. Insiders have sold a total of 7,110,447 shares of company stock worth $275,410,529 in the last three months. Company insiders own 38.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SYM. Van ECK Associates Corp acquired a new stake in shares of Symbotic in the fourth quarter worth $26,000. Providence Capital Advisors LLC purchased a new position in Symbotic in the third quarter valued at about $33,000. RiverPark Advisors LLC purchased a new position in Symbotic in the first quarter valued at about $37,000. Global Retirement Partners LLC lifted its stake in shares of Symbotic by 166.7% during the first quarter. Global Retirement Partners LLC now owns 1,056 shares of the company’s stock worth $48,000 after purchasing an additional 660 shares in the last quarter. Finally, Pingora Partners LLC purchased a new stake in shares of Symbotic in the fourth quarter worth about $51,000.

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.