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Symbotic Inc. (SYM) Gains As Market Dips: What You Should Know

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Symbotic Inc. (SYM - Free Report) closed the most recent trading day at $44.10, moving +0.07% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.06%. Elsewhere, the Dow saw an upswing of 0.35%, while the tech-heavy Nasdaq depreciated by 0.76%.

Prior to today's trading, shares of the company had lost 14.14% over the past month. This has lagged the Business Services sector's gain of 1.8% and the S&P 500's gain of 3.36% in that time.

The investment community will be closely monitoring the performance of Symbotic Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on February 5, 2024. It is anticipated that the company will report an EPS of -$0.05, marking a 58.33% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $371 million, indicating a 79.83% growth compared to the corresponding quarter of the prior year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.02 per share and revenue of $1.79 billion, indicating changes of +94.59% and +51.71%, respectively, compared to the previous year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Symbotic Inc. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Symbotic Inc. possesses a Zacks Rank of #2 (Buy).

The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 72, which puts it in the top 29% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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