Barclays Reaffirms Their Sell Rating on Symbotic (SYM)
Barclays analyst Guy Hardwick maintained a Sell rating on Symbotic today and set a price target of $42.00.
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Hardwick covers the Technology sector, focusing on stocks such as TE Connectivity, IMPINJ, and Manhattan Associates. According to TipRanks, Hardwick has an average return of 10.6% and a 70.27% success rate on recommended stocks.
Symbotic has an analyst consensus of Moderate Buy, with a price target consensus of $66.60.
Based on Symbotic’s latest earnings release for the quarter ending September 27, the company reported a quarterly revenue of $618.46 million and a GAAP net loss of $3.62 million. In comparison, last year the company earned a revenue of $564.57 million and had a net profit of $2.84 million
Based on the recent corporate insider activity of 108 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SYM in relation to earlier this year. Earlier this month, William M III Boyd, the CSO of SYM sold 15,000.00 shares for a total of $1,035,000.00.
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