Symbotic Inc (NASDAQ:SYM) price on current trading day, rose 1.15% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $23.72.
A look at the stock’s price movement, the close in the last trading session was $23.45. Turning to its 52-week performance, $50.40 and $17.11 were the 52-week high and 52-week low respectively. Overall, SYM moved -14.49% over the past month.
Symbotic Inc’s market cap currently stands at around $13.96 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 522.36M for the company’s revenue for the quarter, with a low and high estimate of 512M and 530.5M respectively. The average forecast suggests up to a 23.11% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 2.26B, representing a 24.24% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that SYM is a 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
13 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 10 recommend SYM as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
SYM’s current price about -13.61% and -12.48% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 37.85, while 7-day volatility ratio is 6.43% and 5.85% in the 30-day chart. Further, Symbotic Inc (SYM) has a beta value of 1.85, and an average true range (ATR) of 1.87. Analysts have given the company’s stock an average 52-week price target of $32, forecast between a low of $29 and high of $35. Looking at the price targets, the low is -22.26% off current price level while to achieve the yearly target high, price needs to move -47.55%. Nonetheless, investors will most likely welcome a -34.91% jump to $32 which is the analysts’ median price.
If we refocus on Symbotic Inc (NASDAQ:SYM), historical trading data shows that trading volumes averaged 2.86 million over the past 3 months. The company’s latest data on shares outstanding shows there are 106.52 million shares.
The 60.34% of Symbotic Inc’s shares are in the hands of company insiders while institutional holders own 37.11% of the company’s shares. Current price change has pushed the stock 0.04% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the SYM stock continues to rise going into the next quarter.
