Synchronoss (SNCR) Stock Dips While Market Gains: Key Facts

Company Performance - Synchronoss (SNCR) closed at $7.51, reflecting a -3.84% change from the previous day, underperforming compared to the S&P 500's 0.61% gain [1] - Over the past month, shares of Synchronoss have increased by 8.62%, while the Computer and Technology sector gained 5.6% and the S&P 500 gained 3.85% [1] Upcoming Financial Results - Synchronoss is projected to report earnings of $0.25 per share, indicating a year-over-year decline of 47.92% [2] - The consensus estimate for revenue is $42.59 million, which represents a 2% decrease from the prior-year quarter [2] Annual Forecast - For the entire year, the Zacks Consensus Estimates forecast earnings of $1.17 per share and revenue of $172.42 million, reflecting changes of -28.22% and -0.68% respectively compared to the previous year [3] Analyst Estimates - Recent modifications to analyst estimates for Synchronoss are crucial as they reflect short-term business trends, with upward revisions indicating analysts' positive outlook on the company's operations [4] - These estimate changes are linked to stock price performance, and the Zacks Rank system is designed to leverage this relationship [5] Zacks Rank and Valuation - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), has a strong track record, with stocks rated 1 producing an average annual return of +25% since 1988 [6] - Currently, Synchronoss holds a Zacks Rank of 3 (Hold) [6] - The company has a Forward P/E ratio of 6.68, which is significantly lower than the industry average Forward P/E of 28.96 [7] Industry Context - Synchronoss operates within the Internet - Software industry, which is part of the Computer and Technology sector, currently holding a Zacks Industry Rank of 62, placing it in the top 26% of over 250 industries [7][8] - The top 50% rated industries outperform the bottom half by a factor of 2 to 1, indicating a favorable industry environment for Synchronoss [8]