In the latest trading session, Synchronoss (SNCR) closed at $9.00, marking a +1.69% move from the previous day. This change outpaced the S&P 500's 0.47% gain on the day. Meanwhile, the Dow gained 0.04%, and the Nasdaq, a tech-heavy index, added 0.9%.
Prior to today's trading, shares of the mobile services company had gained 1.96% outpaced the Computer and Technology sector's loss of 1.96% and the S&P 500's loss of 0.16%.
Analysts and investors alike will be keeping a close eye on the performance of Synchronoss in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.22, showcasing a 76.6% downward movement from the corresponding quarter of the prior year. 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 project earnings of $0.91 per share and a revenue of $169.73 million, demonstrating changes of -44.17% and -2.23%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Synchronoss. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 past month, there's been no change in the Zacks Consensus EPS estimate. At present, Synchronoss boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Synchronoss is presently trading at a Forward P/E ratio of 7.5. This valuation marks a discount compared to its industry average Forward P/E of 20.3.
We can also see that SNCR currently has a PEG ratio of 0.38. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Internet - Software industry was having an average PEG ratio of 1.11.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 92, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the 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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