Synchronoss (SNCR) Dips More Than Broader Markets: What You Should Know
Synchronoss (SNCR) closed at $1.14 in the latest trading session, marking a -1.72% move from the prior day. This change lagged the S&P 500's 0.75% loss on the day. At the same time, the Dow lost 0.32%, and the tech-heavy Nasdaq lost 0.11%.
Heading into today, shares of the mobile services company had lost 21.09% over the past month, lagging the Computer and Technology sector's loss of 9.65% and the S&P 500's loss of 8.4% in that time.
Synchronoss will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0, down 100% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $62.4 million, down 10.54% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.16 per share and revenue of $261.72 million, which would represent changes of +180% and -6.73%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Synchronoss. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Synchronoss is currently a Zacks Rank #1 (Strong Buy).
Investors should also note Synchronoss's current valuation metrics, including its Forward P/E ratio of 7.25. This valuation marks a discount compared to its industry's average Forward P/E of 47.17.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 86, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow SNCR in the coming trading sessions, be sure to utilize Zacks.com.
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