In the latest trading session, Symbotic Inc. (SYM) closed at $63.80, marking a -4.98% move from the previous day. This change lagged the S&P 500's 2.71% loss on the day. On the other hand, the Dow registered a loss of 1.9%, and the technology-centric Nasdaq decreased by 3.56%.
Heading into today, shares of the company had gained 37.27% over the past month, outpacing the Business Services sector's loss of 2.46% and the S&P 500's gain of 3.5%.
The investment community will be closely monitoring the performance of Symbotic Inc. in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.07, marking a 40% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $600.16 million, indicating a 4.05% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.24 per share and revenue of $2.23 billion, indicating changes of +400% and 0%, respectively, compared to the previous 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 business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Symbotic Inc. presently features a Zacks Rank of #5 (Strong Sell).
Digging into valuation, Symbotic Inc. currently has a Forward P/E ratio of 168.91. This valuation marks a premium compared to its industry average Forward P/E of 22.23.
It's also important to note that SYM currently trades at a PEG ratio of 5.63. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Technology Services stocks are, on average, holding a PEG ratio of 1.83 based on yesterday's closing prices.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 90, 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 ReportThis article originally published on Zacks Investment Research (zacks.com).
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