Symbotic (NASDAQ:SYM) Price Target Increased to $21.00 by Analysts at Needham & Company LLC

Symbotic (NASDAQ:SYM – Get Rating) had its price target hoisted by Needham & Company LLC from $18.00 to $21.00 in a research report sent to investors on Tuesday, Marketbeat reports. The firm currently has a buy rating on the stock.

A number of other research firms have also issued reports on SYM. The Goldman Sachs Group began coverage on shares of Symbotic in a report on Monday, July 25th. They issued a neutral rating and a $19.00 target price on the stock. Cantor Fitzgerald assumed coverage on shares of Symbotic in a report on Wednesday, July 20th. They set an overweight rating and a $24.00 price objective on the stock. Cowen assumed coverage on shares of Symbotic in a report on Tuesday, June 21st. They set an outperform rating and a $18.00 price objective on the stock. William Blair assumed coverage on shares of Symbotic in a report on Friday, July 15th. They set an outperform rating on the stock. Finally, Robert W. Baird increased their price objective on shares of Symbotic from $18.00 to $20.00 and gave the stock an outperform rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Symbotic currently has an average rating of Moderate Buy and a consensus target price of $20.60.

Symbotic Stock Performance

NASDAQ:SYM opened at $16.22 on Tuesday. The company has a 50-day moving average price of $16.08. Symbotic has a 12-month low of $9.01 and a 12-month high of $28.48.

Symbotic Company Profile

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Symbotic Inc, an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. It offers The Symbotic System, a full-service warehouse automation system that reduces costs, improves efficiency, and maximizes inventory. The company is based in Wilmington, Massachusetts.