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Synchronoss (SNCR) Stock Dips While Market Gains: Key Facts
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Synchronoss (SNCR - Free Report) closed at $7.51 in the latest trading session, marking a -3.84% move from the prior day. This change lagged the S&P 500's 0.61% gain on the day. Elsewhere, the Dow gained 0.49%, while the tech-heavy Nasdaq added 0.95%.
Coming into today, shares of the mobile services company had gained 8.62% in the past month. In that same time, the Computer and Technology sector gained 5.6%, while the S&P 500 gained 3.85%.
Market participants will be closely following the financial results of Synchronoss in its upcoming release. On that day, Synchronoss is projected to report earnings of $0.25 per share, which would represent a year-over-year decline of 47.92%. Meanwhile, our latest consensus estimate is calling for revenue of $42.59 million, down 2% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.17 per share and revenue of $172.42 million, indicating changes of -28.22% and -0.68%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Synchronoss. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, Synchronoss holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Synchronoss is holding a Forward P/E ratio of 6.68. This denotes a discount relative to the industry average Forward P/E of 28.96.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 62, which puts it in the top 26% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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Synchronoss (SNCR) Stock Dips While Market Gains: Key Facts
Synchronoss (SNCR - Free Report) closed at $7.51 in the latest trading session, marking a -3.84% move from the prior day. This change lagged the S&P 500's 0.61% gain on the day. Elsewhere, the Dow gained 0.49%, while the tech-heavy Nasdaq added 0.95%.
Coming into today, shares of the mobile services company had gained 8.62% in the past month. In that same time, the Computer and Technology sector gained 5.6%, while the S&P 500 gained 3.85%.
Market participants will be closely following the financial results of Synchronoss in its upcoming release. On that day, Synchronoss is projected to report earnings of $0.25 per share, which would represent a year-over-year decline of 47.92%. Meanwhile, our latest consensus estimate is calling for revenue of $42.59 million, down 2% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.17 per share and revenue of $172.42 million, indicating changes of -28.22% and -0.68%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Synchronoss. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, Synchronoss holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Synchronoss is holding a Forward P/E ratio of 6.68. This denotes a discount relative to the industry average Forward P/E of 28.96.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 62, which puts it in the top 26% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.