The most recent trading session ended with Synchronoss (SNCR) standing at $11.08, reflecting a +1.76% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily gain of 0.38%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, added 0.87%.
The mobile services company's shares have seen an increase of 23.47% over the last month, surpassing the Computer and Technology sector's loss of 8.94% and the S&P 500's loss of 5.59%.
Market participants will be closely following the financial results of Synchronoss in its upcoming release. It is anticipated that the company will report an EPS of $0.29, marking a 34.09% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $42.11 million, indicating a 2% downward movement from the same quarter last year.
SNCR's full-year Zacks Consensus Estimates are calling for earnings of $1.58 per share and revenue of $174.4 million. These results would represent year-over-year changes of -3.07% and +0.46%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Synchronoss. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 14.87% upward. Right now, Synchronoss possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Synchronoss is at present trading with a Forward P/E ratio of 6.89. This signifies a discount in comparison to the average Forward P/E of 26.28 for its industry.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 74, finds itself in the top 30% echelons 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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Synchronoss Technologies, Inc. (SNCR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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