Synchronoss (SNCR) Dips More Than Broader Markets: What You Should Know
Synchronoss (SNCR) closed the most recent trading day at $1.02, moving -1.92% from the previous trading session. This change lagged the S&P 500's 0.8% loss on the day. At the same time, the Dow lost 0.3%, and the tech-heavy Nasdaq lost 0.03%.
Coming into today, shares of the mobile services company had lost 12.24% in the past month. In that same time, the Computer and Technology sector lost 6.95%, while the S&P 500 lost 5.13%.
Synchronoss will be looking to display strength as it nears its next earnings release. On that day, Synchronoss is projected to report earnings of $0 per share, which would represent a year-over-year decline of 100%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $62.4 million, down 10.54% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.16 per share and revenue of $261.72 million. These totals would mark changes of +180% and -6.73%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Synchronoss. Recent revisions tend to reflect the latest near-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. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Synchronoss is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note Synchronoss's current valuation metrics, including its Forward P/E ratio of 6.5. This represents a discount compared to its industry's average Forward P/E of 41.97.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 27% 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.
To follow SNCR in the coming trading sessions, be sure to utilize Zacks.com.
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