Synchronoss (SNCR) closed at $9.83 in the latest trading session, marking a +0.92% move from the prior day. This move lagged the S&P 500's daily gain of 1.81%. Meanwhile, the Dow experienced a rise of 1.56%, and the technology-dominated Nasdaq saw an increase of 2.06%.
Heading into today, shares of the mobile services company had lost 4.79% over the past month, outpacing the Computer and Technology sector's loss of 7.27% and the S&P 500's loss of 6.14% in that time.
The upcoming earnings release of Synchronoss will be of great interest to investors. The company is expected to report EPS of $0.29, down 34.09% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $42.11 million, showing a 2% drop compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.58 per share and a revenue of $174.4 million, signifying shifts of -3.07% and +0.46%, respectively, from the last year.
Any recent changes to analyst estimates for Synchronoss should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 14.87% higher. As of now, Synchronoss holds a Zacks Rank of #3 (Hold).
Looking at valuation, Synchronoss is presently trading at a Forward P/E ratio of 6.16. This denotes a discount relative to the industry's average Forward P/E of 24.57.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 85, this industry ranks in the top 35% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next 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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