Symbotic Inc. (SYM) Beats Stock Market Upswing: What Investors Need to Know

Symbotic Inc. (SYM) closed the most recent trading day at $44.85, moving +0.79% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.74%. On the other hand, the Dow registered a loss of 0.01%, and the technology-centric Nasdaq increased by 1.68%.

The company's stock has dropped by 1.51% in the past month, exceeding the Business Services sector's loss of 1.98% and lagging the S&P 500's gain of 0.8%.

Analysts and investors alike will be keeping a close eye on the performance of Symbotic Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.02, marking an 80% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $415.98 million, up 55.89% from the year-ago period.

For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.02 per share and revenue of $1.76 billion, which would represent changes of +94.59% and +49.59%, respectively, from the prior 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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Symbotic Inc. possesses a Zacks Rank of #3 (Hold).

The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 94, this industry ranks in the top 38% of all industries, numbering over 250.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming trading sessions.

Only $1 to See All Zacks' Buys and Sells

We're not kidding.

Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.

Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.

See Stocks Now >>

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 Report

To read this article on click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.