We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Synchronoss (SNCR) Stock Sinks As Market Gains: Here's Why
Read MoreHide Full Article
In the latest trading session, Synchronoss (SNCR - Free Report) closed at $6.42, marking a -1.98% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.49%. On the other hand, the Dow registered a gain of 0.38%, and the technology-centric Nasdaq increased by 0.72%.
Shares of the mobile services company witnessed a gain of 5.99% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 6.81%, and outperforming the S&P 500's gain of 2.99%.
The upcoming earnings release of Synchronoss will be of great interest to investors. The company's earnings per share (EPS) are projected to be $0.31, reflecting a 219.23% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $42.96 million, unchanged from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.02 per share and revenue of $172.32 million, which would represent changes of -37.42% and -0.73%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Synchronoss. 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 business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Synchronoss holds a Zacks Rank of #4 (Sell).
From a valuation perspective, Synchronoss is currently exchanging hands at a Forward P/E ratio of 6.42. For comparison, its industry has an average Forward P/E of 32.6, which means Synchronoss is trading at a discount to the group.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 64, placing it within the top 26% of over 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Synchronoss (SNCR) Stock Sinks As Market Gains: Here's Why
In the latest trading session, Synchronoss (SNCR - Free Report) closed at $6.42, marking a -1.98% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.49%. On the other hand, the Dow registered a gain of 0.38%, and the technology-centric Nasdaq increased by 0.72%.
Shares of the mobile services company witnessed a gain of 5.99% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 6.81%, and outperforming the S&P 500's gain of 2.99%.
The upcoming earnings release of Synchronoss will be of great interest to investors. The company's earnings per share (EPS) are projected to be $0.31, reflecting a 219.23% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $42.96 million, unchanged from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.02 per share and revenue of $172.32 million, which would represent changes of -37.42% and -0.73%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Synchronoss. 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 business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Synchronoss holds a Zacks Rank of #4 (Sell).
From a valuation perspective, Synchronoss is currently exchanging hands at a Forward P/E ratio of 6.42. For comparison, its industry has an average Forward P/E of 32.6, which means Synchronoss is trading at a discount to the group.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 64, placing it within the top 26% of over 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.