Synchronoss (SNCR) Beats Stock Market Upswing: What Investors Need to Know

Synchronoss (SNCR) closed the latest trading day at $9.88, indicating a +1.96% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 0.92%. On the other hand, the Dow registered a gain of 0.31%, and the technology-centric Nasdaq increased by 2.03%.

The the stock of mobile services company has risen by 4.53% in the past month, leading the Computer and Technology sector's loss of 2.99% and the S&P 500's gain of 0.81%.

The investment community will be closely monitoring the performance of Synchronoss in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.10, marking a 111.76% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $43.64 million, up 5.41% from the prior-year quarter.

Investors should also take note of any recent adjustments to analyst estimates for Synchronoss. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Synchronoss presently features a Zacks Rank of #1 (Strong Buy).

Investors should also note Synchronoss's current valuation metrics, including its Forward P/E ratio of 6.66. This represents a discount compared to its industry's average Forward P/E of 31.2.

The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 44, placing it within the top 18% of over 250 industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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