Analyst Joseph C Giordano of TD Cowen maintained a Buy rating on Symbotic (SYM – Research Report), retaining the price target of $45.00.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Joseph C Giordano has given his Buy rating due to a combination of factors, primarily focusing on Symbotic’s potential for growth and the uniqueness of its technology. Despite recent challenges such as restatements and delays in financial filings, which have affected opinions on the company’s internal systems, the technology remains a strong point, entering a market with minimal existing competition.
Moreover, the company is demonstrating significant expansion capabilities, especially through its partnership with Walmart, which is expanding both internationally and within stores. Although there are concerns about margin volatility and current services margins being negative, the company is prioritizing customer satisfaction over short-term profitability, a strategy that Giordano seems to support. Overall, despite some near-term hurdles, the long-term prospects and strategic decisions suggest a promising future, warranting a Buy recommendation.
In another report released on February 18, D.A. Davidson also reiterated a Buy rating on the stock with a $35.00 price target.
Based on the recent corporate insider activity of 74 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.