10 Cheap Robotics Stocks To Invest In Now

6. Symbotic Inc. (NASDAQ:SYM)

Analyst Upside (as of January 11): 36.83%

No. of Hedge Fund Holders: 15

Symbotic Inc. (NASDAQ:SYM) is an automation technology company. The company offers AI-driven automation-powered robotic and software platform solutions to support large-scale supply chain operations. The company also provides FreeMove 3D depth-sensing computer vision systems for individual business operations and all related intellectual property.

Symbotic Inc.’s (NASDAQ:SYM) competitive ability is to provide customizable AI solutions to automate the processing of full pallets and separate individual cases to expand available warehouse space. Considering the rising demand for e-commerce and the pressure to deliver ever-faster shipping, the need for warehouse automation has surged. The company’s systems allow warehouses to accomplish a 30% to 60% reduction in space requirements, leading to higher efficiency, lower labor costs, and significantly minimizing operating and delivery expenses.

On December 13, Symbotic Inc. (NASDAQ:SYM) announced the acquisition of OhmniLabs, a robotics innovator specializing in healthcare solutions. This adds to the company’s portfolio and combines Symbotic’s large-scale automation power with OhmniLabs’ mobile robots, AI, and vision systems. For the fiscal year 2024, the company increased its revenue by a remarkable 55% from a year ago, driven by the addition of new customers including Walmex. The company expects Q1 FY25 revenue between $495 million and $515 million, a year-over-year growth of almost 35% to 40%, driven by new investments and increasing clients.

Cantor Fitzgerald analyst Derek Soderberg reiterated an overweight rating for SYM and set a price target of $60, which reflects an upside of 134%, as of January 11. Soderberg’s optimism on SYM relies on the company’s global expansion and development in its warehouse-as-a-service joint venture.