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Synchronoss (SNCR) Beats Stock Market Upswing: What Investors Need to Know
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Synchronoss (SNCR - Free Report) closed the most recent trading day at $12.23, moving +1.75% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.16%. On the other hand, the Dow registered a gain of 0.01%, and the technology-centric Nasdaq increased by 0.46%.
Shares of the mobile services company witnessed a gain of 26.53% over the previous month, beating the performance of the Computer and Technology sector with its loss of 5.94% and the S&P 500's loss of 3.59%.
The upcoming earnings release of Synchronoss will be of great interest to investors. On that day, Synchronoss is projected to report earnings of $0.29 per share, which would represent a year-over-year decline of 34.09%. Meanwhile, the latest consensus estimate predicts the revenue to be $42.11 million, indicating a 2% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $1.58 per share and a revenue of $174.4 million, demonstrating changes of -3.07% and +0.46%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Synchronoss. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 a 14.87% increase. Right now, Synchronoss possesses a Zacks Rank of #3 (Hold).
Investors should also note Synchronoss's current valuation metrics, including its Forward P/E ratio of 7.61. Its industry sports an average Forward P/E of 28.29, 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 128, this industry ranks in the top 50% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Synchronoss (SNCR) Beats Stock Market Upswing: What Investors Need to Know
Synchronoss (SNCR - Free Report) closed the most recent trading day at $12.23, moving +1.75% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.16%. On the other hand, the Dow registered a gain of 0.01%, and the technology-centric Nasdaq increased by 0.46%.
Shares of the mobile services company witnessed a gain of 26.53% over the previous month, beating the performance of the Computer and Technology sector with its loss of 5.94% and the S&P 500's loss of 3.59%.
The upcoming earnings release of Synchronoss will be of great interest to investors. On that day, Synchronoss is projected to report earnings of $0.29 per share, which would represent a year-over-year decline of 34.09%. Meanwhile, the latest consensus estimate predicts the revenue to be $42.11 million, indicating a 2% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $1.58 per share and a revenue of $174.4 million, demonstrating changes of -3.07% and +0.46%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Synchronoss. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 a 14.87% increase. Right now, Synchronoss possesses a Zacks Rank of #3 (Hold).
Investors should also note Synchronoss's current valuation metrics, including its Forward P/E ratio of 7.61. Its industry sports an average Forward P/E of 28.29, 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 128, this industry ranks in the top 50% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.