How to Buy Symbotic Stock
Symbotic Inc
Symbotic Inc. , an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States.
Symbotic stock last closed at $40.43, up 0.45% from the previous day, and has increased 34.19% in one year. It has overperformed other stocks in the Specialty Industrial Machinery industry by 0.05 percentage points. Symbotic stock is currently +80.49% from its 52-week low of $22.40, and -36.97% from its 52-week high of $64.14.
As of Apr 24, 2024, there are 89.06M SYM shares outstanding. The market cap of SYM is $3.60B. In the last 24 hours, 899,521 SYM shares were traded.
How to Buy Symbotic Stock
Not sure how to invest in Symbotic stock? Here's how.
- Decide where to buy Symbotic stock: You need to pick an online brokerage, but don't worry - we've analyzed dozens of online brokerages and apps to help you determine where to buy Symbotic stock.
- Create your brokerage account: Sign up for 0% fee trading with the highest-rated brokerage we've identified.
- Fund your brokerage account: Select your payment method and add your information.
- Analyze Symbotic stock: The Symbotic ticker symbol is SYM. Is Symbotic stock a good investment? Should you buy shares of SYM? How do SYM's underlying business fundamentals look? Do top analysts think Symbotic is a good buy? Why has SYM's stock price moved recently? (Hint: Our stock research website can help you evaluate if SYM is a good stock to buy).
- Make your SYM trade: Decide if you will purchase SYM shares at the current market price or use a limit order to purchase SYM shares at a particular price.
- Get updates on your SYM position: Create a watchlist to get the latest news on your position in Symbotic stock.
Step 1: Decide where to buy Symbotic stock
You need a brokerage account to access the NASDAQ market and buy SYM stock.
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Open eToro AccountStep 2: Create your brokerage account
Now that you've chosen the right brokerage, you need to fill out some personal information so you are able to buy SYM today.
How to Set Up a New Brokerage Account on eToro
- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
- Provide your personal details to open your new trading account.
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Step 3: Fund your brokerage account
Now that you have filled out your info on the greatest app to buy stocks, you can securely and quickly fund your account:
Watch the tutorial below if you need help transferring money into your new brokerage account.
Step 4: Analyze Symbotic stock
Once you have chosen the best place to buy Symbotic stock, it's important to evaluate their stock before you buy, so you can wrap your head around the risk and opportunity.
Overview of key SYM info
SYM Fundamentals
WallStreetZen was created to help everyday investors do better fundamental analysis in less time.
You can see all of the due diligence checks on SYM's stock page.
Is SYM stock overvalued?
You can use a variety of different financial metrics, analyses, models, and charts to gauge SYM's intrinsic value.
Using relative valuations methods:
- SYM may be overvalued based on its P/B ratio of 22.42x, relative to Specialty Industrial Machinery industry P/B ratio of 4.96x
You can do additional valuation analysis on SYM's stock here.
SYM Financial Health Overview
Pros:
- There are more short-term assets than short-term liabilities on the SYM balance sheet.
- SYM profit margin has gone up from -1.9% to -1.4% in the past year.
- SYM's operating cash flow of $99.59M allows it to safely service it's debt of $0.00.
- There are more short-term assets than long-term liabilities on the SYM balance sheet.
Cons:
- SYM earnings of -$23.36M is not sufficient to cover its interest payments.
- SYM has a relatively high debt to equity ratio of 7.18.
Do analysts think it's a good time to buy Symbotic stock
Out of 7 Wall Street analysts who give recommendations on SYM, the consensus analyst rating on Symbotic is a Strong Buy
It's important to note that analyst ratings are not recommendations, nor are they investment advice.
Latest SYM Analyst Upgrades/Downgrades
James Ricchiuti, a top 1% analyst from Needham maintains SYM with a buy rating and lowers their SYM price target from $58.00 to $54.00, on Feb 6, 2024.
Ken Newman, a top 7% analyst from KeyBanc maintains SYM with a strong buy rating and lowers their SYM price target from $63.00 to $58.00, on Feb 6, 2024.
KeyBanc's Ken Newman lowered their price target on Symbotic (NASDAQ: SYM) by 7.9% from $63 to $58 on 2024/02/06. The analyst maintained their Strong Buy rating on the stock.
Newman's price target cut followed the 2024/02/05 release of Symbotic's Q1 2024 earnings report.
The analyst explained that although the company delivered in-line results in the quarter, management's updated Q2 EBITDA guidance was below consensus even though its revenue projection was consistent with analysts' expectations.
That implies, Newman said, "a sequential step back in EBITDA margins in spite of a 55% Y/Y increase in revenue at the midpoint."
However, although management's outlook was "nominally disappointing," the analyst argued that "the Q2 outlook is more a reflection of lumpiness caused by the timing of contract growth than an indication of any structural issues."
In fact, Newman said that management's Q2 guidance might be "modestly conservative."
Earnings Report
For Q1 2024, Symbotic reported:
- Loss per share of $0.02, which beat the Zacks Consensus Estimate of $(0.05) and, by 83.3%, Q1 2023's loss of $0.12.
- Revenue of $368.45M, which missed the Zacks Consensus Estimate by 0.49% but beat Q1 2023's $206.31M by 78.6%.
- Adjusted EBITDA of $14M, up from Q1 2023's EBITDA of $(16M).
- Cash and cash equivalents at quarter-end of $677M, up sequentially from $548M.
For Q2 2024, management guided:
- Revenue of $400M to $420M.
- Adjusted EBITDA of $12M to $15M.
Chairman & CEO Rick Cohen commented: “FY 2024 is off to a solid start with strong financial and operational results.
"I am pleased with the trajectory and goals we have planned for the rest of the year.
“We will continue to innovate and build deployment capacity to support growth and increased profitability for our stakeholders.”
CFO Carol Hibbard added: “Q12024 revenue grew nearly 80% compared to the same period a year ago, and we posted our second quarter of positive adjusted EBITDA1.
“We initiated five system deployments and completed three systems during Q1 as we delivered for our customers with a focus on excellence and speed of deployment.”
You can dig deeper into what analysts are saying on the Symbotic stock forecast page.
SYM Technical Indicators
SYM Performance Numbers
Last year, SYM revenue was $1.34B. In the past three year, SYM's revenue has increased by 146.43% per year. This was faster than the Specialty Industrial Machinery industry average of 3.94%.
Dive into SYM's earnings and revenue performance here.
Who is buying/selling SYM?
In the last 12 months, insiders at SYM have sold more shares than they have bought.
Todd Krasnow, Director of SYM, was the latest SYM insider to sell. They sold $84,406.00 worth of SYM stock on Apr 5, 2024.
Research more about who owns SYM shares here.
Can I rely on SYM as an income stream?
No, Symbotic doesn't provide an income stream by paying out dividends.
What others are saying about SYM
One of the major reasons eToro is our top-rated brokerage is because of its social trading community.
Click below to find out what other community members have to say.
Step 5: Make your SYM trade
There are two main types of orders:
- Market order: A market order is an order to buy or sell a security at the best possible price.
Market orders are generally the best for newer investors. - Limit order: A limit order enables you to buy or sell a security at a specific price (or better).
If you want to be sure you're buying or selling at a particular dollar amount, place a limit order.
Press the Open Trade button and eToro will execute the order.
If you want additional info about investing in stocks on eToro, watch the how to video below:
Step 6: Get updates on your SYM position
Now that you own some SYM shares, you'll want to stay up-to-date on your new shares.
Put SYM on a watchlist to get notified of the latest news about your SYM stock.
SYM Feed
How to Buy Stock in Symbotic
To reiterate, here are the 6 steps you need to take to buy Symbotic stock right now:
- Decide where to buy Symbotic stock
- Create your brokerage account
- Fund your brokerage account
- Analyze Symbotic stock
- Make your SYM trade
- Get updates on your SYM position
If you are looking for a online brokerage, eToro is our favorite option.
Get Started with eToro TodayIf you would like to track your investment in Symbotic, get started below.
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