Synchronoss (SNCR – Free Report) closed the most recent trading day at $12, moving -1.88% from the previous trading session. This change lagged the S&P 500’s daily loss of 1.12%. Elsewhere, the Dow saw a downswing of 0.31%, while the tech-heavy Nasdaq depreciated by 2.04%.
Shares of the mobile services company witnessed a gain of 31.5% over the previous month, beating the performance of the Computer and Technology sector with its loss of 4.05% and the S&P 500’s loss of 2.91%.
The investment community will be paying close attention to the earnings performance of Synchronoss in its upcoming release. The company’s upcoming EPS is projected at $0.29, signifying a 34.09% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $42.11 million, indicating a 2% decline compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.58 per share and revenue of $174.4 million. These totals would mark changes of -3.07% and +0.46%, respectively, from last year.
Any recent changes to analyst estimates for Synchronoss should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company’s business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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 has moved 14.87% higher. Synchronoss is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Synchronoss is currently being traded at a Forward P/E ratio of 7.74. This signifies a discount in comparison to the average Forward P/E of 27.97 for its industry.
The Internet – Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 78, placing it within the top 32% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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