This AI Stock Has Nearly Tripled in the Last Year

• Symbotic (SYM) set a new 52-week high in morning trading on Aug. 5.
• The stock is showing strong technical momentum with a 100% “Buy” signal via Barchart.
• Shares are up more than 170% over the past 52 weeks.
• Wall Street sentiment is bullish, with multiple “Strong Buy” ratings and a consensus price target well above current levels.

Today’s Featured Stock

Valued at $33.35 billion, Symbotic (SYM) is an automation technology company reimagining the supply chain with its end-to-end, artificial intelligence-powered robotic and software platform. 

What I’m Watching

I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals; superior current momentum in both strength and direction; and a Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation.

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SYM checks those boxes. Since the Trend Seeker signaled a buy on May 8, the stock has gained 136.3%.

SYM Price vs. Daily Moving Averages:

www.barchart.com

Barchart Technical Indicators for Symbotic

Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.

Symbotic shares hit a new 52-week high on Aug. 5, touching $62.61 in intraday trading.

• Symbotic has a Weighted Alpha of +213.61.
• Symbotic has a 100% “Buy” opinion from Barchart.
• The stock has gained 172.36% over the past year.
• SYM has its Trend Seeker “Buy” signal intact.
• Symbotic is trading above its 20-, 50-, and 100-day moving averages.
• The stock made 10 new highs and gained 30.53% in the last month.
• Relative Strength Index (RSI) is at 72.76%.
• There’s a technical support level around $53.16.

Don’t Forget the Fundamentals

• $33.35 billion market capitalization.
• Revenue is projected to grow 20.96% this year and another 31.43% next year.
• Earnings are estimated to increase 132.24% next year.

Analyst and Investor Sentiment on Symbotic

I don’t buy stocks because everyone else is buying, but I do realize that if major firms and investors are dumping a stock, it’s hard to make money swimming against the tide.

It looks like Wall Street analysts are bullish on SYM, and so are most major advisory sites.

• The Wall Street analysts tracked by Barchart have issued 7 “Strong Buy,” 1 “Moderate Buy,” 9 “Hold,” and 1 “Sell” opinion on the stock.
• Value Line gives the company its above-average rating with a price target of $74.
• CFRA’s Market Scope rates the stock a “Strong Buy.”
• Morningstar thinks the stock is fairly valued.
• 12,520 investors monitor the stock on Seeking Alpha, which rates the stock a “Hold.”

The Bottom Line on Symbotic Stock

Symbotic currently has momentum and is hitting new highs. It has positive sentiment from Wall Street, plus analysts project double-digit increases in revenue and earnings.

That said, I caution that SYM is volatile and even speculative in the current environment, which means investors should use strict risk management and stop-loss strategies.

Today’s Chart of the Day was written by Jim Van Meerten. Read previous editions of the daily newsletter here.

Additional disclosure: The Barchart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.