Craig-Hallum Sticks to Its Buy Rating for Symbotic (SYM)
In a report released today, Greg Palm from Craig-Hallum reiterated a Buy rating on Symbotic, with a price target of $65.00.
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Palm covers the Technology sector, focusing on stocks such as nLIGHT, 3D Systems, and Stratasys. According to TipRanks, Palm has an average return of 21.4% and a 58.99% success rate on recommended stocks.
In addition to Craig-Hallum, Symbotic also received a Buy from KeyBanc’s Kenneth Newman in a report issued today. However, on the same day, William Blair maintained a Hold rating on Symbotic (NASDAQ: SYM).
Based on Symbotic’s latest earnings release for the quarter ending March 28, the company reported a quarterly revenue of $676.48 million and a net profit of $1.97 million. In comparison, last year the company earned a revenue of $549.65 million and had a GAAP net loss of $1.8 million
Based on the recent corporate insider activity of 123 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. Last month, Todd Krasnow, a Director at SYM sold 3,367.00 shares for a total of $171,717.00.
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