In the latest close session, Synchronoss (SNCR) was up +1.14% at $8.90. The stock exceeded the S&P 500, which registered a gain of 0.54% for the day. On the other hand, the Dow registered a gain of 1.05%, and the technology-centric Nasdaq increased by 0.56%.
Coming into today, shares of the mobile services company had gained 2.44% in the past month. In that same time, the Computer and Technology sector gained 0.44%, while the S&P 500 gained 0.74%.
The upcoming earnings release of Synchronoss will be of great interest to investors. On that day, Synchronoss is projected to report earnings of $0.22 per share, which would represent a year-over-year decline of 76.6%. Alongside, our most recent consensus estimate is anticipating revenue of $43.03 million, indicating a 2.68% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.91 per share and revenue of $169.73 million, which would represent changes of -44.17% and 0%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Synchronoss. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Synchronoss is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Synchronoss currently has a Forward P/E ratio of 7.46. This denotes a discount relative to the industry average Forward P/E of 22.53.
Meanwhile, SNCR's PEG ratio is currently 0.37. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Internet - Software industry had an average PEG ratio of 1.29 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 83, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during 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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