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Symbotic Inc. (SYM) Surpasses Market Returns: Some Facts Worth Knowing
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The latest trading session saw Symbotic Inc. (SYM - Free Report) ending at $40.19, denoting a +1.62% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a gain of 1.02% for the day. Elsewhere, the Dow gained 0.4%, while the tech-heavy Nasdaq added 2.03%.
Coming into today, shares of the company had lost 12.11% in the past month. In that same time, the Business Services sector lost 5.04%, while the S&P 500 lost 3.15%.
The investment community will be paying close attention to the earnings performance of Symbotic Inc. in its upcoming release. The company is slated to reveal its earnings on May 6, 2024. On that day, Symbotic Inc. is projected to report earnings of -$0.03 per share, which would represent year-over-year growth of 70%. In the meantime, our current consensus estimate forecasts the revenue to be $415.98 million, indicating a 55.89% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.03 per share and a revenue of $1.76 billion, representing changes of +91.89% and +49.59%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Symbotic Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Symbotic Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 141, putting it in the bottom 45% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Symbotic Inc. (SYM) Surpasses Market Returns: Some Facts Worth Knowing
The latest trading session saw Symbotic Inc. (SYM - Free Report) ending at $40.19, denoting a +1.62% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a gain of 1.02% for the day. Elsewhere, the Dow gained 0.4%, while the tech-heavy Nasdaq added 2.03%.
Coming into today, shares of the company had lost 12.11% in the past month. In that same time, the Business Services sector lost 5.04%, while the S&P 500 lost 3.15%.
The investment community will be paying close attention to the earnings performance of Symbotic Inc. in its upcoming release. The company is slated to reveal its earnings on May 6, 2024. On that day, Symbotic Inc. is projected to report earnings of -$0.03 per share, which would represent year-over-year growth of 70%. In the meantime, our current consensus estimate forecasts the revenue to be $415.98 million, indicating a 55.89% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.03 per share and a revenue of $1.76 billion, representing changes of +91.89% and +49.59%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Symbotic Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Symbotic Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 141, putting it in the bottom 45% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.