Symbotic Inc. (SYM) closed at $70.45 in the latest trading session, marking a +2.67% move from the prior day. The stock's change was more than the S&P 500's daily gain of 0.62%. Meanwhile, the Dow experienced a rise of 0.99%, and the technology-dominated Nasdaq saw an increase of 0.65%.
Prior to today's trading, shares of the company had gained 13.46% outpaced the Business Services sector's gain of 1.64% and the S&P 500's gain of 0.59%.
Market participants will be closely following the financial results of Symbotic Inc. in its upcoming release. The company is predicted to post an EPS of $0.08, indicating a 366.67% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $622.31 million, showing a 27.86% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.4 per share and a revenue of $2.72 billion, signifying shifts of -78.02% and +21.1%, respectively, from the last year.
Any recent changes to analyst estimates for Symbotic Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Right now, Symbotic Inc. possesses a Zacks Rank of #4 (Sell).
In the context of valuation, Symbotic Inc. is at present trading with a Forward P/E ratio of 170.48. This expresses a premium compared to the average Forward P/E of 16.62 of its industry.
It is also worth noting that SYM currently has a PEG ratio of 5.68. 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 1.49 based on yesterday's closing prices.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 161, this industry ranks in the bottom 35% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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