Analyst Predicts Symbotic Stock Price to Achieve $53 Amid Quarterly Earnings Surge
Analyst Sees Symbotic Stock Rising to $53 - Will It Hit Target?
The industrial robotics specialist is more than worthy of a buy, the pundit continues to believe.
The morning after Symbotic (NASDAQ: SYM) published a fresh set of quarterly earnings, investors pounced on the stock and it rose significantly. But they weren't the only folks getting more positive about the company's future.
Analyst Robert Mason of Baird made a slight upward revision to his price target on the warehouse automation specialist's stock. At the new level, he feels that the shares could rise by 14% in the near future.
- Mason rather cautiously added $1.00 to his Symbotic price target for a new figure of $53 per share.
- In digesting the company's fiscal second-quarter results -- made public in early May -- Mason was impressed with the lower costs, which he believed were due to recent innovations.
- Symobtic managed to crank its revenue 59% higher on a year-over-year basis to $424 million, topping the analyst consensus.
Is some caution warranted?
A price target 14% above where Symbiotic currently trades feels like the right value to me.
Before you buy stock in Symbotic, consider this:
- The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Symbotic wasn’t one of them.
- Consider when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $554,830!*.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.