Yahoo Finance Synchronoss (SNCR) Stock Falls Amid Market Uptick: What Investors Need to Know
The latest trading session saw Synchronoss (SNCR) ending at $7.87, denoting a -1.63% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 0.09%. At the same time, the Dow added 0.09%, and the tech-heavy Nasdaq gained 0.3%.
The mobile services company's stock has dropped by 10.21% in the past month, falling short of the Computer and Technology sector's gain of 6.18% and the S&P 500's gain of 3.38%.
The investment community will be paying close attention to the earnings performance of Synchronoss in its upcoming release. The company's upcoming EPS is projected at $0.07, signifying a 125.93% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $43.09 million, indicating a 27.84% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.56 per share and revenue of $172.84 million, which would represent changes of +139.72% and -19.41%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Synchronoss. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Synchronoss is holding a Zacks Rank of #1 (Strong Buy) right now.
From a valuation perspective, Synchronoss is currently exchanging hands at a Forward P/E ratio of 14.29. This signifies a discount in comparison to the average Forward P/E of 29.97 for its industry.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 83, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Synchronoss Technologies, Inc. (SNCR) : Free Stock Analysis Report
