Synchronoss (SNCR) Surges 5.1%: Is This an Indication of Further Gains?

Company Overview - Synchronoss (SNCR) shares increased by 5.1% to close at $14.11, following notable trading volume, contrasting with a 5.7% loss over the past four weeks [1] - The company is experiencing strong cloud subscriber growth, with a 6.1% increase in the number of cloud subscribers in Q2 2024, contributing to 5.9% of total revenues [1] Earnings Expectations - The upcoming quarterly earnings report is expected to show earnings of $0.25 per share, reflecting a year-over-year decline of 44.4%, with revenues projected at $43.31 million, down 22.2% from the previous year [2] - The consensus EPS estimate for Synchronoss has remained unchanged over the last 30 days, indicating that stock price movements may not continue without trends in earnings estimate revisions [3] Industry Context - Synchronoss is part of the Zacks Internet - Software industry, where another company, eGain (EGAN), saw a 2% increase to $5.17, but has returned -29.5% over the past month [3] - eGain's consensus EPS estimate has changed by -200% over the past month to $0.01, representing a year-over-year decline of 91.7%, and it currently holds a Zacks Rank of 3 (Hold) [4]