Symbotic Inc. (SYM) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest market close, Symbotic Inc. (SYM) reached $45, with a -0.4% movement compared to the previous day. This move lagged the S&P 500's daily loss of 0.29%. Meanwhile, the Dow experienced a drop of 0.35%, and the technology-dominated Nasdaq saw a decrease of 0.3%.
The company's stock has dropped by 2.19% in the past month, falling short of the Business Services sector's gain of 4.93% and the S&P 500's gain of 4.42%.
Market participants will be closely following the financial results of Symbotic Inc. in its upcoming release. On that day, Symbotic Inc. is projected to report earnings of -$0.02 per share, which would represent year-over-year growth of 80%. Alongside, our most recent consensus estimate is anticipating revenue of $415.98 million, indicating a 55.89% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.02 per share and revenue of $1.76 billion. These totals would mark changes of +94.59% and +49.59%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Symbotic Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Symbotic Inc. is currently a Zacks Rank #3 (Hold).
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 92, positioning it in the top 37% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Symbotic Inc. (SYM) : Free Stock Analysis Report
