Here's Why Symbotic Inc. (SYM) Fell More Than Broader Market

Symbotic Inc. (SYM) closed at $31.16 in the latest trading session, marking a -3.98% move from the prior day. This move lagged the S&P 500's daily loss of 0.84%. Meanwhile, the Dow lost 0.7%, and the Nasdaq, a tech-heavy index, lost 0.91%. The stock of company has risen by 17.28% in the past month, leading the Business Services sector's loss of 0% and the S&P 500's gain of 1.44%.Analysts and investors alike will be keeping a close eye on the performance of Symbotic Inc. in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.03, reflecting a 250% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $536.41 million, up 9.06% from the year-ago period. For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.2 per share and a revenue of $2.22 billion, representing changes of +350% and +19.32%, respectively, from the prior year. Investors should also take note of any recent adjustments to analyst estimates for Symbotic Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, 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, the Zacks Consensus EPS estimate has remained steady. Symbotic Inc. is holding a Zacks Rank of #5 (Strong Sell) right now. Looking at its valuation, Symbotic Inc. is holding a Forward P/E ratio of 1622.5. Its industry sports an average Forward P/E of 22.22, so one might conclude that Symbotic Inc. is trading at a premium comparatively. One should further note that SYM currently holds a PEG ratio of 54.08. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Technology Services industry currently had an average PEG ratio of 1.7 as of yesterday's close. The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 53, this industry ranks in the top 22% of all industries, numbering over 250. 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. Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com. 7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.5% per year. So be sure to give these hand picked 7 your immediate attention. See them 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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks