NEW YORK (TheStreet) -- Shares of Synnex (SNX) - Get Report were falling 3.3% to $74.70 after-hours Tuesday after the IT supply chain services company missed analysts' estimates for earnings and revenue in the fiscal first quarter.

Synnex reported earnings of $1.46 a share for the first quarter, below analysts' estimates of $1.52 a share. Revenue grew 5.8% year over year to $3.2 billion in the first quarter, below analysts' estimates of $3.42 billion.

The company said that Technology Solutions revenue fell 1.3% organically from the year-ago quarter to $2.9 billion. Concentrix revenue grew to $341.8 million from $127 million in the year-ago quarter due to the acquisition of IBM's (IBM) - Get Report CRM business.

Looking to the second quarter Synnex expects to report earnings of $1.50 to $1.56 a share and revenue in a range of $3.375 billion to $3.475 billion. Analysts expect the company to report earnings of $1.59 a share and revenue of $3.57 billion for the second quarter.

TheStreet Ratings team rates SYNNEX CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate SYNNEX CORP (SNX) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and attractive valuation levels. We feel these strengths outweigh the fact that the company shows low profit margins."

You can view the full analysis from the report here: SNX Ratings Report

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