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Synchronoss (SNCR) Increases Despite Market Slip: Here's What You Need to Know
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In the latest trading session, Synchronoss (SNCR - Free Report) closed at $12.31, marking a +0.65% move from the previous day. This move outpaced the S&P 500's daily loss of 1.07%. Elsewhere, the Dow lost 0.62%, while the tech-heavy Nasdaq lost 1.71%.
Heading into today, shares of the mobile services company had gained 17.82% over the past month, outpacing the Computer and Technology sector's loss of 11.12% and the S&P 500's loss of 7.03% in that time.
The investment community will be closely monitoring the performance of Synchronoss in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.29, marking a 34.09% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $42.11 million, indicating a 2% decline compared to the corresponding quarter of the prior 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.
It is also important to note the recent changes to analyst estimates for Synchronoss. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 14.87% increase. Synchronoss currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Synchronoss is currently being traded at a Forward P/E ratio of 7.74. Its industry sports an average Forward P/E of 27.87, so one might conclude that Synchronoss is trading at a discount comparatively.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 79, this industry ranks in the top 32% of all industries, numbering over 250.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Synchronoss (SNCR) Increases Despite Market Slip: Here's What You Need to Know
In the latest trading session, Synchronoss (SNCR - Free Report) closed at $12.31, marking a +0.65% move from the previous day. This move outpaced the S&P 500's daily loss of 1.07%. Elsewhere, the Dow lost 0.62%, while the tech-heavy Nasdaq lost 1.71%.
Heading into today, shares of the mobile services company had gained 17.82% over the past month, outpacing the Computer and Technology sector's loss of 11.12% and the S&P 500's loss of 7.03% in that time.
The investment community will be closely monitoring the performance of Synchronoss in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.29, marking a 34.09% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $42.11 million, indicating a 2% decline compared to the corresponding quarter of the prior 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.
It is also important to note the recent changes to analyst estimates for Synchronoss. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 14.87% increase. Synchronoss currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Synchronoss is currently being traded at a Forward P/E ratio of 7.74. Its industry sports an average Forward P/E of 27.87, so one might conclude that Synchronoss is trading at a discount comparatively.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 79, this industry ranks in the top 32% of all industries, numbering over 250.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.