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Synchronoss (SNCR) Stock Drops Despite Market Gains: Important Facts to Note
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The latest trading session saw Synchronoss (SNCR - Free Report) ending at $11.68, denoting a -0.51% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.4%. Elsewhere, the Dow gained 0.09%, while the tech-heavy Nasdaq added 0.63%.
Coming into today, shares of the mobile services company had lost 7.63% in the past month. In that same time, the Computer and Technology sector gained 4.88%, while the S&P 500 gained 3.76%.
The investment community will be closely monitoring the performance of Synchronoss in its forthcoming earnings report. The company's upcoming EPS is projected at $0.25, signifying a 44.44% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $43.31 million, reflecting a 22.18% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $1.19 per share and a revenue of $173.36 million, demonstrating changes of +184.4% and -19.17%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Synchronoss. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Synchronoss is holding a Zacks Rank of #2 (Buy) right now.
In the context of valuation, Synchronoss is at present trading with a Forward P/E ratio of 9.87. This denotes a discount relative to the industry's average Forward P/E of 32.25.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% 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 (SNCR) Stock Drops Despite Market Gains: Important Facts to Note
The latest trading session saw Synchronoss (SNCR - Free Report) ending at $11.68, denoting a -0.51% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.4%. Elsewhere, the Dow gained 0.09%, while the tech-heavy Nasdaq added 0.63%.
Coming into today, shares of the mobile services company had lost 7.63% in the past month. In that same time, the Computer and Technology sector gained 4.88%, while the S&P 500 gained 3.76%.
The investment community will be closely monitoring the performance of Synchronoss in its forthcoming earnings report. The company's upcoming EPS is projected at $0.25, signifying a 44.44% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $43.31 million, reflecting a 22.18% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $1.19 per share and a revenue of $173.36 million, demonstrating changes of +184.4% and -19.17%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Synchronoss. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Synchronoss is holding a Zacks Rank of #2 (Buy) right now.
In the context of valuation, Synchronoss is at present trading with a Forward P/E ratio of 9.87. This denotes a discount relative to the industry's average Forward P/E of 32.25.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% 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.