7 Best Debt Free Stocks To Buy

5. Symbotic Inc. (NASDAQ:SYM)

Market Cap as of 16/08/2024: $2.22 Billion

Enterprise Value: $1.35 Billion

Upside Potential: 38.78%

Symbotic Inc. (NASDAQ:SYM) is a specialty industrial machinery company that operates as a technology company developing technologies to improve operating efficiencies in warehouses. As one of the best debt-free stocks to buy, the company automates processing pallets and cases in large warehouses.

The leader in A.I.-enabled robotics technology for the supply chain delivered solid Q3 2024 results whereby revenues totaled $492 million, up from $312 million delivered last year. Symbotic Inc. (NASDAQ:SYM) also posted a net loss of $14 million, an adjusted EBITDA of $15 million, and an improvement from a net loss of $39 million and EBITDA of $3 million, affirming underlying growth.

Symbiotic has bought Veo Robotics’ assets for $8.7 million. This purchase encompasses Veo’s FreeMove® 3D depth-sensing computer vision technology for industrial workstations and associated intellectual property. By incorporating FreeMove into its warehouse automation system, Symbotic plans to improve efficiency and safety in areas where humans and robots work together.

While Symbotic Inc. (NASDAQ:SYM) is down by about 46% for the year with a low debt of $18.18 million, it continues to fire on all angles while relying on operational efficiency. Additionally, the stock is rated as ‘Buy’ on Wall Street with an average price target of $55, implying a 38.78% upside potential from current levels. A total of 24 hedge funds out of the 920 tracked by Insider Monkey held stakes in Symbotic Inc. (NASDAQ:SYM) as of the end of the first quarter.