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Is Synchronoss (SNCR) Stock a Solid Choice Right Now?

Zacks Equity Research
·2 min read

One stock that might be an intriguing choice for investors right now is Synchronoss Technologies, Inc. SNCR. This is because this security in the Internet - Software space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.

This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Internet - Software space as it currently has a Zacks Industry Rank of 30 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.

Meanwhile, Synchronoss is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.

Synchronoss Technologies, Inc. Price and Consensus

Synchronoss Technologies, Inc. Price and Consensus
Synchronoss Technologies, Inc. Price and Consensus

Synchronoss Technologies, Inc. price-consensus-chart | Synchronoss Technologies, Inc. Quote

In fact, over the past month, current quarter estimates have narrowed from a loss of 42 cents per share to a loss of 24 cents per share, while current year estimates have narrowed from a loss of $1.41 per share to a loss of 38 cents per share. This has helped SNCR to earn a Zacks Rank #1 (Strong Buy), further underscoring the company’s solid position. You can see the complete list of today’s Zacks #1 Rank stocks here.

So, if you are looking for a decent pick in a strong industry, consider Synchronoss. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

The Hottest Tech Mega-Trend of All

Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>


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Synchronoss Technologies, Inc. (SNCR) : Free Stock Analysis Report
 
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Zacks Investment Research