Symbotic Inc. (SYM) closed at $32.87 in the latest trading session, marking a -3.32% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.96% for the day. Meanwhile, the Dow experienced a rise of 0.89%, and the technology-dominated Nasdaq saw an increase of 0.94%.
Shares of the company have appreciated by 18.24% over the course of the past month, outperforming the Business Services sector's loss of 5.01%, and the S&P 500's gain of 0.5%.
Market participants will be closely following the financial results of Symbotic Inc. in its upcoming release. In that report, analysts expect Symbotic Inc. to post earnings of $0.03 per share. This would mark year-over-year growth of 250%. At the same time, our most recent consensus estimate is projecting a revenue of $536.41 million, reflecting a 9.06% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.2 per share and revenue of $2.22 billion, which would represent changes of +350% and +19.32%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Symbotic Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, Symbotic Inc. boasts a Zacks Rank of #5 (Strong Sell).
With respect to valuation, Symbotic Inc. is currently being traded at a Forward P/E ratio of 168.6. This valuation marks a premium compared to its industry average Forward P/E of 19.97.
Investors should also note that SYM has a PEG ratio of 5.62 right now. 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. SYM's industry had an average PEG ratio of 1.47 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 48, which puts it in the top 20% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Symbotic Inc. (SYM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
