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Why the Market Dipped But Synchronoss (SNCR) Gained Today
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In the latest market close, Synchronoss (SNCR - Free Report) reached $8.05, with a +0.63% movement compared to the previous day. This change outpaced the S&P 500's 0.04% loss on the day. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq gained 0.03%.
Heading into today, shares of the mobile services company had lost 26.2% over the past month, lagging the Computer and Technology sector's gain of 4.26% and the S&P 500's gain of 2.57% in that time.
Market participants will be closely following the financial results of Synchronoss in its upcoming release. The company's upcoming EPS is projected at -$0.50, signifying a 30.56% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $41.52 million, indicating a 28.05% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$1.67 per share and a revenue of $170.74 million, signifying shifts of -18.44% and -20.39%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Synchronoss. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an 85.97% decrease. Synchronoss is holding a Zacks Rank of #5 (Strong Sell) right now.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 37, placing it within the top 15% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Why the Market Dipped But Synchronoss (SNCR) Gained Today
In the latest market close, Synchronoss (SNCR - Free Report) reached $8.05, with a +0.63% movement compared to the previous day. This change outpaced the S&P 500's 0.04% loss on the day. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq gained 0.03%.
Heading into today, shares of the mobile services company had lost 26.2% over the past month, lagging the Computer and Technology sector's gain of 4.26% and the S&P 500's gain of 2.57% in that time.
Market participants will be closely following the financial results of Synchronoss in its upcoming release. The company's upcoming EPS is projected at -$0.50, signifying a 30.56% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $41.52 million, indicating a 28.05% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$1.67 per share and a revenue of $170.74 million, signifying shifts of -18.44% and -20.39%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Synchronoss. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an 85.97% decrease. Synchronoss is holding a Zacks Rank of #5 (Strong Sell) right now.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 37, placing it within the top 15% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.