The most recent trading session ended with Synchronoss (SNCR – Free Report) standing at $10.05, reflecting a +1.21% shift from the previouse trading day’s closing. The stock outperformed the S&P 500, which registered a daily loss of 0.95%. On the other hand, the Dow registered a loss of 0.99%, and the technology-centric Nasdaq decreased by 1.36%.
The mobile services company’s shares have seen an increase of 13.1% over the last month, surpassing the Computer and Technology sector’s loss of 1.55% and the S&P 500’s gain of 1.86%.
Investors will be eagerly watching for the performance of Synchronoss in its upcoming earnings disclosure. The company’s earnings per share (EPS) are projected to be $0.10, reflecting a 111.76% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $43.64 million, up 5.41% from the prior-year quarter.
Investors should also pay attention to any latest changes in analyst estimates for Synchronoss. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company’s business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Synchronoss currently has a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Synchronoss is presently trading at a Forward P/E ratio of 6.82. This represents a discount compared to its industry’s average Forward P/E of 31.59.
The Internet – Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 73, putting it in the top 30% 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.
Don’t forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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