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The latest trading session saw Synchronoss (SNCR) ending at $9.41, denoting a +1.18% adjustment from its last day's close. The stock's change was more than the S&P 500's daily gain of 0.61%. Meanwhile, the Dow experienced a rise of 0.3%, and the technology-dominated Nasdaq saw an increase of 1.28%.
Coming into today, shares of the mobile services company had gained 0.87% in the past month. In that same time, the Computer and Technology sector gained 1.24%, while the S&P 500 gained 2.08%.
Investors will be eagerly watching for the performance of Synchronoss in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.10, indicating a 111.76% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $43.64 million, indicating a 5.41% growth compared to the corresponding quarter of the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Synchronoss. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Synchronoss is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Synchronoss is presently being traded at a Forward P/E ratio of 6.39. This valuation marks a discount compared to its industry's average Forward P/E of 29.01.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 41, finds itself in the top 17% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.