In the latest close session, Synchronoss (SNCR) was up +2.42% at $8.45. The stock's change was more than the S&P 500's daily gain of 0.4%. Meanwhile, the Dow experienced a rise of 0.47%, and the technology-dominated Nasdaq saw an increase of 0.24%.
Coming into today, shares of the mobile services company had gained 30.75% in the past month. In that same time, the Computer and Technology sector gained 6.84%, while the S&P 500 gained 4.61%.
Market participants will be closely following the financial results of Synchronoss in its upcoming release. The company's upcoming EPS is projected at $0.25, signifying a 47.92% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $42.59 million, down 2% from the year-ago period.
SNCR's full-year Zacks Consensus Estimates are calling for earnings of $1.17 per share and revenue of $172.42 million. These results would represent year-over-year changes of -28.22% and -0.68%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Synchronoss. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Synchronoss is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Synchronoss is currently being traded at a Forward P/E ratio of 7.05. For comparison, its industry has an average Forward P/E of 29.31, which means Synchronoss is trading at a discount to the group.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 79, positioning it in the top 32% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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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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