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Symbotic Inc. (SYM) Rises As Market Takes a Dip: Key Facts

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Symbotic Inc. (SYM - Free Report) closed the latest trading day at $39.19, indicating a +1.82% change from the previous session's end. The stock outpaced the S&P 500's daily loss of 0.71%. Meanwhile, the Dow lost 0.93%, and the Nasdaq, a tech-heavy index, lost 0.81%.

Prior to today's trading, shares of the company had gained 13.17% over the past month. This has outpaced the Business Services sector's loss of 3.02% and the S&P 500's gain of 1.08% in that time.

Market participants will be closely following the financial results of Symbotic Inc. in its upcoming release. The company plans to announce its earnings on July 29, 2024. The company's upcoming EPS is projected at $0, signifying a 100% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $462.77 million, up 48.4% from the prior-year quarter.

SYM's full-year Zacks Consensus Estimates are calling for earnings of -$0.07 per share and revenue of $1.77 billion. These results would represent year-over-year changes of +81.08% and +50.2%, respectively.

Investors should also note any recent changes to analyst estimates for Symbotic Inc. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate 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 group has a Zacks Industry Rank of 92, putting it in the top 37% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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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