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Barclays Reaffirms Their Sell Rating on Symbotic (SYM)

Tipranks - Tue Mar 17, 2:30AM CDT

Barclays analyst Guy Hardwick maintained a Sell rating on Symbotic today and set a price target of $44.00.

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Hardwick covers the Technology sector, focusing on stocks such as Zebra Tech, Cognex, and IMPINJ. According to TipRanks, Hardwick has an average return of -0.3% and a 46.43% success rate on recommended stocks.

Currently, the analyst consensus on Symbotic is a Moderate Buy with an average price target of $64.88.

Based on Symbotic’s latest earnings release for the quarter ending December 27, the company reported a quarterly revenue of $629.99 million and a net profit of $2.6 million. In comparison, last year the company earned a revenue of $486.69 million and had a GAAP net loss of $3.48 million

Based on the recent corporate insider activity of 117 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, Rollin Ford, a Director at SYM sold 60,000.00 shares for a total of $3,450,092.75.

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