Synchronoss (SNCR) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Synchronoss (SNCR) closed at $1.01, marking a -0.98% move from the previous day. This change lagged the S&P 500's daily gain of 2.37%. Meanwhile, the Dow gained 2.47%, and the Nasdaq, a tech-heavy index, lost 0.07%.
Prior to today's trading, shares of the mobile services company had lost 11.3% over the past month. This has lagged the Computer and Technology sector's loss of 5.85% and the S&P 500's loss of 4.82% in that time.
Investors will be hoping for strength from Synchronoss as it approaches its next earnings release. The company is expected to report EPS of $0, down 100% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $62.4 million, down 10.54% from the prior-year quarter.
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.
Any recent changes to analyst estimates for Synchronoss should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Synchronoss is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, Synchronoss is holding a Forward P/E ratio of 6.38. Its industry sports an average Forward P/E of 42.08, so we one might conclude that Synchronoss is trading at a discount comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 71, which puts it in the top 29% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Synchronoss Technologies, Inc. (SNCR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
