In yesterday’s Wall Street session, Symbotic Inc. (NASDAQ:SYM) shares traded at $63.54, up 50.64% from the previous session.
As of this writing, 13 analysts cover Symbotic Inc. (NASDAQ:SYM). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $61.00 and a low of $32.00, we find $44.00. Given the previous closing price of $42.18, this indicates a potential upside of 4.31 percent. SYM stock price is now 55.81% away from the 50-day moving average and 178.35% away from the 200-day moving average. The market capitalization of the company currently stands at $33.04B.
There are 2 analysts who have given it a hold rating, whereas 9 have given it a buy rating. Brokers who have rated the stock have averaged $43.92 as their price target over the next twelve months.
With the price target enhanced from $34 to $40, UBS Downgraded its rating from Buy to Neutral for Symbotic Inc. (NASDAQ: SYM).
In other news, Cohen Janet L, 10% Owner sold 17,825,312 shares of the company’s stock on Jul 25. The stock was sold for $500,000,002 at an average price of $28.05. Upon completion of the transaction, the 10% Owner now directly owns 0 shares in the company, valued at $0.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 25, Cohen Richard B sold 17,825,312 shares of the business’s stock. A total of $500,000,002 was realized by selling the stock at an average price of $28.05. Insiders disposed of 466,387 shares of company stock worth roughly $29.63 million over the past 1 year. A total of 1.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SYM stock. A new stake in Symbotic Inc. shares was purchased by MIRAE ASSET GLOBAL INVESTMENTS CO., LTD. during the first quarter worth $36,232,000. LEGAL & GENERAL GROUP PLC invested $27,368,000 in shares of SYM during the first quarter. In the first quarter, FIRST TRUST ADVISORS LP acquired a new stake in Symbotic Inc. valued at approximately $18,187,000. NEXT CENTURY GROWTH INVESTORS LLC acquired a new stake in SYM for approximately $13,792,000. ADVISORY RESEARCH INC purchased a new stake in SYM valued at around $9,961,000 in the second quarter. In total, there are 121 active investors with 39.60% ownership of the company’s stock.
Monday morning saw Symbotic Inc. (NASDAQ: SYM) opened at $46.17. During the past 12 months, Symbotic Inc. has had a low of $8.75 and a high of $53.83. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 1.00, and a quick ratio of 0.90. The fifty day moving average price for SYM is $41.49 and a two-hundred day moving average price translates $23.08 for the stock.
The latest earnings results from Symbotic Inc. (NASDAQ: SYM) was released for Mar, 2023. The net profit margin was -2.30% and return on equity was -368.70% for SYM. The company reported revenue of $266.85 million for the quarter, compared to $96.28 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 177.15 percent. For the current quarter, analysts expect SYM to generate $261.02M in revenue.
Symbotic Inc.(SYM) Company Profile
Symbotic Inc., an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. The company offers Symbotic system, an end-to-end warehouse automation system for product distribution. It also designs, assemblies, and installs modular inventory management systems and performs configuration of embedded software. Symbotic Inc. is headquartered in Wilmington, Massachusetts.
