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Strength Seen in Symbotic Inc. (SYM): Can Its 9.5% Jump Turn into More Strength?

Zacks Equity Research
·2-min read

Symbotic Inc. (SYM) shares rallied 9.2% in the last trading session to close at $20.4. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.5% loss over the past four weeks.

The stock is benefiting from growing demand for the company’s solutions and improving supply chain.

This company is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents a year-over-year change of +99.3%. Revenues are expected to be $227.41 million, up 136.2% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

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For Symbotic Inc., the consensus EPS estimate for the quarter has been revised 9.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on SYM going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Symbotic Inc. belongs to the Zacks Technology Services industry. Another stock from the same industry, Cardlytics (CDLX), closed the last trading session 7.4% lower at $3.12. Over the past month, CDLX has returned -51.9%.

Cardlytics' consensus EPS estimate for the upcoming report has changed -26.5% over the past month to -$0.58. Compared to the company's year-ago EPS, this represents a change of -52.6%. Cardlytics currently boasts a Zacks Rank of #3 (Hold).

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Symbotic Inc. (SYM) : Free Stock Analysis Report

Cardlytics, Inc. (CDLX) : Free Stock Analysis Report

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Zacks Investment Research