Yahoo Finance Synchronoss (SNCR) Flat As Market Sinks: What You Should Know
In the latest trading session, Synchronoss (SNCR) closed at $1.24, marking no change from the previous day. This change was narrower than the S&P 500's 1.13% loss on the day. At the same time, the Dow lost 1.01%, and the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the mobile services company had lost 24.85% over the past month, lagging the Computer and Technology sector's loss of 11.27% and the S&P 500's loss of 7.59% in that time.
Synchronoss will be looking to display strength as it nears its next earnings release. In that report, analysts expect Synchronoss to post earnings of $0 per share. This would mark 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.
SNCR's full-year Zacks Consensus Estimates are calling for earnings of $0.16 per share and revenue of $261.72 million. These results would represent year-over-year changes of +180% and -6.73%, respectively.
Investors should also note any recent changes to analyst estimates for Synchronoss. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 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. Within the past 30 days, our consensus EPS projection remained stagnant. Synchronoss is currently a Zacks Rank #1 (Strong Buy).
Investors should also note Synchronoss's current valuation metrics, including its Forward P/E ratio of 7.75. This valuation marks a discount compared to its industry's average Forward P/E of 43.06.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 139, which puts it in the bottom 45% 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.
To follow SNCR in the coming trading sessions, be sure to utilize Zacks.com.
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Synchronoss Technologies, Inc. (SNCR) : Free Stock Analysis Report
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