Synchronoss (SNCR) closed the most recent trading day at $10.38, moving +0.39% from the previous trading session. This change outpaced the S&P 500's 0.01% loss on the day. At the same time, the Dow lost 0.37%, and the tech-heavy Nasdaq gained 0.41%.
The the stock of mobile services company has risen by 12.76% in the past month, leading the Computer and Technology sector's gain of 3.65% and the S&P 500's gain of 4.88%.
The investment community will be paying close attention to the earnings performance of Synchronoss in its upcoming release. On that day, Synchronoss is projected to report earnings of $0.10 per share, which would represent year-over-year growth of 111.76%. Alongside, our most recent consensus estimate is anticipating revenue of $43.64 million, indicating a 5.41% upward movement from the same quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Synchronoss. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Synchronoss presently features a Zacks Rank of #1 (Strong Buy).
Investors should also note Synchronoss's current valuation metrics, including its Forward P/E ratio of 7.11. This denotes a discount relative to the industry's average Forward P/E of 31.36.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 72, which puts it in the top 29% of all 250+ industries.
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.
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
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