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Why the Market Dipped But Symbotic Inc. (SYM) Gained Today
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Symbotic Inc. (SYM - Free Report) closed at $51.26 in the latest trading session, marking a +2.4% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.28%. Meanwhile, the Dow lost 0.44%, and the Nasdaq, a tech-heavy index, lost 0.28%.
The company's stock has dropped by 7.31% in the past month, falling short of the Business Services sector's loss of 4.46% and the S&P 500's loss of 3.59%.
The investment community will be closely monitoring the performance of Symbotic Inc. in its forthcoming earnings report. In that report, analysts expect Symbotic Inc. to post earnings of $0.11 per share. This would mark year-over-year growth of 375%. Our most recent consensus estimate is calling for quarterly revenue of $660.6 million, up 20.19% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.48 per share and a revenue of $2.76 billion, representing changes of -73.63% and +23.04%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Symbotic Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Symbotic Inc. is currently a Zacks Rank #3 (Hold).
In the context of valuation, Symbotic Inc. is at present trading with a Forward P/E ratio of 104.29. This indicates a premium in contrast to its industry's Forward P/E of 15.75.
Meanwhile, SYM's PEG ratio is currently 3.48. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. SYM's industry had an average PEG ratio of 1.34 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 190, placing it within the bottom 23% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SYM in the coming trading sessions, be sure to utilize Zacks.com.
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Why the Market Dipped But Symbotic Inc. (SYM) Gained Today
Symbotic Inc. (SYM - Free Report) closed at $51.26 in the latest trading session, marking a +2.4% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.28%. Meanwhile, the Dow lost 0.44%, and the Nasdaq, a tech-heavy index, lost 0.28%.
The company's stock has dropped by 7.31% in the past month, falling short of the Business Services sector's loss of 4.46% and the S&P 500's loss of 3.59%.
The investment community will be closely monitoring the performance of Symbotic Inc. in its forthcoming earnings report. In that report, analysts expect Symbotic Inc. to post earnings of $0.11 per share. This would mark year-over-year growth of 375%. Our most recent consensus estimate is calling for quarterly revenue of $660.6 million, up 20.19% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.48 per share and a revenue of $2.76 billion, representing changes of -73.63% and +23.04%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Symbotic Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Symbotic Inc. is currently a Zacks Rank #3 (Hold).
In the context of valuation, Symbotic Inc. is at present trading with a Forward P/E ratio of 104.29. This indicates a premium in contrast to its industry's Forward P/E of 15.75.
Meanwhile, SYM's PEG ratio is currently 3.48. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. SYM's industry had an average PEG ratio of 1.34 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 190, placing it within the bottom 23% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SYM in the coming trading sessions, be sure to utilize Zacks.com.