In the latest trading session, Synchronoss (SNCR) closed at $5.13, marking a -4.11% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.53%. Elsewhere, the Dow saw an upswing of 0.52%, while the tech-heavy Nasdaq appreciated by 0.52%.
The stock of mobile services company has fallen by 18.32% in the past month, lagging the Computer and Technology sector's gain of 2.01% and the S&P 500's gain of 0.71%.
The investment community will be paying close attention to the earnings performance of Synchronoss in its upcoming release. On that day, Synchronoss is projected to report earnings of $0.35 per share, which would represent year-over-year growth of 234.62%. Alongside, our most recent consensus estimate is anticipating revenue of $43.04 million, indicating a 0.19% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.82 per share and a revenue of $172.17 million, representing changes of -49.69% and -0.82%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Synchronoss. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 72.73% decrease. Synchronoss currently has a Zacks Rank of #3 (Hold).
In the context of valuation, Synchronoss is at present trading with a Forward P/E ratio of 6.52. This represents a discount compared to its industry average Forward P/E of 28.77.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 65, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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