Symbotic Inc. (SYM) closed the most recent trading day at $68.60, moving -2.96% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.23% for the day. At the same time, the Dow added 0.34%, and the tech-heavy Nasdaq gained 0.8%.
The stock of company has risen by 31.57% in the past month, leading the Business Services sector's loss of 1.72% and the S&P 500's gain of 3.57%.
Investors will be eagerly watching for the performance of Symbotic Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.07, indicating a 40% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $600.16 million, up 4.05% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.24 per share and a revenue of $2.23 billion, signifying shifts of +400% and 0%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Symbotic Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 15.12% upward. As of now, Symbotic Inc. holds a Zacks Rank of #2 (Buy).
With respect to valuation, Symbotic Inc. is currently being traded at a Forward P/E ratio of 177.84. This denotes a premium relative to the industry average Forward P/E of 21.79.
It's also important to note that SYM currently trades at a PEG ratio of 5.93. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Technology Services was holding an average PEG ratio of 1.84 at yesterday's closing price.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 78, positioning it in the top 32% of all 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Symbotic Inc. (SYM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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