Synchronoss (SNCR) ended the recent trading session at $6.31, demonstrating a +2.94% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.8%. Meanwhile, the Dow gained 0.94%, and the Nasdaq, a tech-heavy index, added 0.97%.
Shares of the mobile services company have depreciated by 9.59% over the course of the past month, underperforming the Computer and Technology sector's gain of 8.5%, and the S&P 500's gain of 5.12%.
Investors will be eagerly watching for the performance of Synchronoss in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.25, showcasing a 47.92% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $42.59 million, down 2% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.17 per share and a revenue of $172.42 million, indicating changes of -28.22% and -0.68%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Synchronoss. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 23.91% lower. Synchronoss is currently sporting a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Synchronoss has a Forward P/E ratio of 5.24 right now. This signifies a discount in comparison to the average Forward P/E of 28 for its industry.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 48, positioning it in the top 20% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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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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