Synchronoss (SNCR) Ascends But Remains Behind Market: Some Facts to Note

Synchronoss (SNCR) ended the recent trading session at $10.53, demonstrating a +1.74% swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 2.51%. Elsewhere, the Dow saw an upswing of 2.66%, while the tech-heavy Nasdaq appreciated by 2.71%.Shares of the mobile services company witnessed a loss of 13.89% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 12.18% and the S&P 500's loss of 8.86%.Market participants will be closely following the financial results of Synchronoss in its upcoming release. It is anticipated that the company will report an EPS of $0.29, marking a 34.09% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $42.11 million, indicating a 2% downward movement from the same quarter last year.For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.58 per share and a revenue of $174.4 million, signifying shifts of -3.07% and +0.46%, respectively, from the last year.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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Synchronoss currently has a Zacks Rank of #2 (Buy).Looking at valuation, Synchronoss is presently trading at a Forward P/E ratio of 6.55. Its industry sports an average Forward P/E of 23.39, so one might conclude that Synchronoss is trading at a discount comparatively.The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 82, this industry ranks in the top 34% of all industries, numbering over 250.The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Synchronoss Technologies, Inc. (SNCR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks