Yahoo Finance Why Symbotic Inc. (SYM) Dipped More Than Broader Market Today
The most recent trading session ended with Symbotic Inc. (SYM) standing at $39.35, reflecting a -1.25% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily loss of 0.02%. At the same time, the Dow added 0.2%, and the tech-heavy Nasdaq lost 0.09%.
The the stock of company has fallen by 17.6% in the past month, lagging the Business Services sector's gain of 1.77% and the S&P 500's gain of 4.59%.
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 per share. This would mark year-over-year growth of 100%. Our most recent consensus estimate is calling for quarterly revenue of $462.77 million, up 48.4% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$0.10 per share and a revenue of $1.77 billion, demonstrating changes of +72.97% and +50.2%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Symbotic Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 150% lower within the past month. Symbotic Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 58, placing it within the top 24% of over 250 industries.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Symbotic Inc. (SYM) : Free Stock Analysis Report
