Surging Earnings Estimates Signal Good News for SYNNEX (SNX) - Tale of the Tape

By Zacks Equity Research,

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SYNNEX Corp. ( SNX ), the stock in the Business Software Services industry could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on SNX's earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that SYNNEX could be a solid choice for investors.

Current Quarter Estimates for SNX

In the past 30 days, 2 estimates have gone higher for SYNNEX. The trend has been pretty favorable too, with estimates increasing from $1.11 a share 30 days ago to $1.37 today, a jump of 23.4%.

Current Year Estimates for SNX

Meanwhile, SYNNEX's current year figures are also looking quite promising, with 4 estimates moving higher in the past month. The consensus estimate trend has also seen a boost for this time frame, increasing from $4.69 per share 30 days ago to $5.34 per share today, an increase of 13.9%.

Bottom Line

The stock has also started to move higher lately, adding 23% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Earnings , Investing Ideas , Stocks
Referenced Stocks: SNX

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