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Synchronoss (SNCR) Rises As Market Takes a Dip: Key Facts
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In the latest trading session, Synchronoss (SNCR - Free Report) closed at $9.18, marking a +0.33% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.88%. Meanwhile, the Dow experienced a rise of 0.08%, and the technology-dominated Nasdaq saw a decrease of 1.95%.
The the stock of mobile services company has risen by 8.8% in the past month, lagging the Computer and Technology sector's gain of 9.48% and overreaching the S&P 500's gain of 5.11%.
The investment community will be closely monitoring the performance of Synchronoss in its forthcoming earnings report. On that day, Synchronoss is projected to report earnings of $0.07 per share, which would represent year-over-year growth of 125.93%. Our most recent consensus estimate is calling for quarterly revenue of $43.09 million, down 27.84% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.56 per share and a revenue of $172.84 million, signifying shifts of +139.72% and -19.41%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Synchronoss. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Synchronoss is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Synchronoss has a Forward P/E ratio of 16.34 right now. This signifies a discount in comparison to the average Forward P/E of 29.49 for its industry.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 93, finds itself in the top 37% echelons 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Synchronoss (SNCR) Rises As Market Takes a Dip: Key Facts
In the latest trading session, Synchronoss (SNCR - Free Report) closed at $9.18, marking a +0.33% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.88%. Meanwhile, the Dow experienced a rise of 0.08%, and the technology-dominated Nasdaq saw a decrease of 1.95%.
The the stock of mobile services company has risen by 8.8% in the past month, lagging the Computer and Technology sector's gain of 9.48% and overreaching the S&P 500's gain of 5.11%.
The investment community will be closely monitoring the performance of Synchronoss in its forthcoming earnings report. On that day, Synchronoss is projected to report earnings of $0.07 per share, which would represent year-over-year growth of 125.93%. Our most recent consensus estimate is calling for quarterly revenue of $43.09 million, down 27.84% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.56 per share and a revenue of $172.84 million, signifying shifts of +139.72% and -19.41%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Synchronoss. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Synchronoss is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Synchronoss has a Forward P/E ratio of 16.34 right now. This signifies a discount in comparison to the average Forward P/E of 29.49 for its industry.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 93, finds itself in the top 37% echelons 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.