Synchronoss (SNCR) closed at $7.57 in the latest trading session, marking a -4.42% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.33% for the day. On the other hand, the Dow registered a loss of 0.63%, and the technology-centric Nasdaq decreased by 0.22%.
Shares of the mobile services company have appreciated by 13.79% over the course of the past month, outperforming the Computer and Technology sector's gain of 5.24%, and the S&P 500's gain of 4.07%.
The investment community will be paying close attention to the earnings performance of Synchronoss in its upcoming release. The company is predicted to post an EPS of $0.25, indicating a 47.92% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $42.59 million, indicating a 2% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.17 per share and revenue of $172.42 million. These totals would mark changes of -28.22% and -0.68%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Synchronoss. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Synchronoss is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Synchronoss is currently trading at a Forward P/E ratio of 6.77. This represents a discount compared to its industry average Forward P/E of 28.6.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 28% of all 250+ industries.
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.
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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Synchronoss Technologies, Inc. (SNCR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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