In the latest trading session, Synchronoss (SNCR) closed at $5.26, marking a -1.87% move from the previous day. This move lagged the S&P 500's daily loss of 0.16%. On the other hand, the Dow registered a gain of 0.44%, and the technology-centric Nasdaq decreased by 0.76%.
Shares of the mobile services company witnessed a loss of 11.26% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 3.34%, and the S&P 500's gain of 1.14%.
Market participants will be closely following the financial results of Synchronoss in its upcoming release. The company's earnings per share (EPS) are projected to be $0.35, reflecting a 234.62% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $43.04 million, reflecting a 0.19% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.82 per share and revenue of $172.17 million, which would represent changes of -49.69% and -0.82%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates 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.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 72.73% lower. Synchronoss currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Synchronoss is currently exchanging hands at a Forward P/E ratio of 6.54. For comparison, its industry has an average Forward P/E of 28.74, which means Synchronoss is trading at a discount to the group.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 57, placing it within the top 24% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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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