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Symbotic Inc. (SYM) Stock Falls Amid Market Uptick: What Investors Need to Know
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In the latest trading session, Symbotic Inc. (SYM - Free Report) closed at $45.24, marking a -0.13% move from the previous day. This move lagged the S&P 500's daily gain of 0.29%. Elsewhere, the Dow saw a downswing of 0.25%, while the tech-heavy Nasdaq appreciated by 0.43%.
Shares of the company have depreciated by 16.41% over the course of the past month, underperforming the Business Services sector's gain of 1.26% and the S&P 500's gain of 2.08%.
The investment community will be paying close attention to the earnings performance of Symbotic Inc. in its upcoming release. The company is slated to reveal its earnings on February 5, 2024. The company is forecasted to report an EPS of -$0.05, showcasing a 58.33% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $371 million, up 79.83% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$0.02 per share and a revenue of $1.79 billion, demonstrating changes of +94.59% and +51.71%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Symbotic Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Symbotic Inc. possesses a Zacks Rank of #2 (Buy).
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 59, positioning it in the top 24% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Symbotic Inc. (SYM) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest trading session, Symbotic Inc. (SYM - Free Report) closed at $45.24, marking a -0.13% move from the previous day. This move lagged the S&P 500's daily gain of 0.29%. Elsewhere, the Dow saw a downswing of 0.25%, while the tech-heavy Nasdaq appreciated by 0.43%.
Shares of the company have depreciated by 16.41% over the course of the past month, underperforming the Business Services sector's gain of 1.26% and the S&P 500's gain of 2.08%.
The investment community will be paying close attention to the earnings performance of Symbotic Inc. in its upcoming release. The company is slated to reveal its earnings on February 5, 2024. The company is forecasted to report an EPS of -$0.05, showcasing a 58.33% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $371 million, up 79.83% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$0.02 per share and a revenue of $1.79 billion, demonstrating changes of +94.59% and +51.71%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Symbotic Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Symbotic Inc. possesses a Zacks Rank of #2 (Buy).
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 59, positioning it in the top 24% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.