In the latest market close, Synchronoss (SNCR) reached $7.85, with a +1.29% movement compared to the previous day. This move outpaced the S&P 500's daily loss of 0.25%. On the other hand, the Dow registered a gain of 0.77%, and the technology-centric Nasdaq decreased by 0.79%.
Coming into today, shares of the mobile services company had lost 26.47% in the past month. In that same time, the Computer and Technology sector gained 8.85%, while the S&P 500 gained 3.59%.
Investors will be eagerly watching for the performance of Synchronoss in its upcoming earnings disclosure. The company is expected to report EPS of $0.07, up 125.93% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $43.09 million, indicating a 27.84% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.56 per share and revenue of $172.84 million, which would represent changes of +139.72% and -19.41%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Synchronoss. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Synchronoss currently has a Zacks Rank of #1 (Strong Buy).
With respect to valuation, Synchronoss is currently being traded at a Forward P/E ratio of 13.84. This indicates a discount in contrast to its industry's Forward P/E of 29.43.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 74, finds itself in the top 30% echelons 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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