The latest trading session saw Synchronoss (SNCR) ending at $9.76, denoting a -0.51% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 0.13%. On the other hand, the Dow registered a loss of 1.33%, and the technology-centric Nasdaq decreased by 0.13%.
The mobile services company's stock has dropped by 18.93% in the past month, falling short of the Computer and Technology sector's loss of 9.27% and the S&P 500's loss of 6.3%.
The upcoming earnings release of Synchronoss will be of great interest to investors. The company's upcoming EPS is projected at $0.29, signifying a 34.09% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $42.11 million, indicating a 2% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.58 per share and a revenue of $174.4 million, representing changes of -3.07% and +0.46%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Synchronoss. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 remained unchanged. Synchronoss currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Synchronoss is currently trading at a Forward P/E ratio of 6.21. For comparison, its industry has an average Forward P/E of 24.35, 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 72, placing it within the top 30% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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