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Synchronoss (SNCR) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Synchronoss (SNCR - Free Report) closed at $11.27, marking a +1.71% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.74% for the day.
Shares of the mobile services company witnessed a loss of 7.12% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 3.99% and the S&P 500's gain of 3.16%.
The investment community will be paying close attention to the earnings performance of Synchronoss in its upcoming release. The company is slated to reveal its earnings on November 12, 2024. The company's earnings per share (EPS) are projected to be $0.25, reflecting a 44.44% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $43.31 million, showing a 22.18% drop compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.19 per share and a revenue of $173.36 million, signifying shifts of +184.4% and -19.17%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates 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. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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 past month, the Zacks Consensus EPS estimate has remained steady. Synchronoss is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Synchronoss is holding a Forward P/E ratio of 9.31. This represents a discount compared to its industry's average Forward P/E of 32.9.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 63, positioning it in the top 25% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Synchronoss (SNCR) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Synchronoss (SNCR - Free Report) closed at $11.27, marking a +1.71% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.74% for the day.
Shares of the mobile services company witnessed a loss of 7.12% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 3.99% and the S&P 500's gain of 3.16%.
The investment community will be paying close attention to the earnings performance of Synchronoss in its upcoming release. The company is slated to reveal its earnings on November 12, 2024. The company's earnings per share (EPS) are projected to be $0.25, reflecting a 44.44% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $43.31 million, showing a 22.18% drop compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.19 per share and a revenue of $173.36 million, signifying shifts of +184.4% and -19.17%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates 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. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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 past month, the Zacks Consensus EPS estimate has remained steady. Synchronoss is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Synchronoss is holding a Forward P/E ratio of 9.31. This represents a discount compared to its industry's average Forward P/E of 32.9.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 63, positioning it in the top 25% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.