Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer.
Trade-Ideas LLC identified
) as a weak on high relative volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Synchronoss Technologies as such a stock due to the following factors:
- SNCR has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $15.9 million.
- SNCR has traded 52,043 shares today.
- SNCR is trading at 2.09 times the normal volume for the stock at this time of day.
- SNCR is trading at a new low 3.06% below yesterday's close.
'Weak on High Relative Volume' stocks are worth watching because major volume moves tend to indicate underlying activity such as material stock news, analyst downgrades, insider selling, selling from 'superinvestors,' or that hedge funds and traders are piling out of a stock ahead of a catalyst. Regardless of the impetus behind the price and volume action, when a stock moves with strength and volume it can indicate the start of a new trend on which early investors can capitalize (or avoid losses by trimming weak positions). In the event of a well-timed trading opportunity, combining technical indicators with fundamental trends and a disciplined trading methodology should help you take the first steps towards investment success.
EXCLUSIVE OFFER: Get the inside scoop on opportunities in SNCR with the Ticky from Trade-Ideas. See the FREE profile for SNCR NOW at Trade-Ideas
More details on SNCR:
Synchronoss Technologies, Inc. provides cloud solutions and software-based activation for connected devices worldwide. SNCR has a PE ratio of 48. Currently there are 6 analysts that rate Synchronoss Technologies a buy, no analysts rate it a sell, and 1 rates it a hold.
The average volume for Synchronoss Technologies has been 486,200 shares per day over the past 30 days. Synchronoss has a market cap of $2.0 billion and is part of the technology sector and computer software & services industry. The stock has a beta of 1.22 and a short float of 15.6% with 13.76 days to cover. Shares are up 4.4% year-to-date as of the close of trading on Monday.
rates Synchronoss Technologies as a
. 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 reasonable valuation levels. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.
Highlights from the ratings report include:
- The revenue growth greatly exceeded the industry average of 11.5%. Since the same quarter one year prior, revenues rose by 35.0%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
- Investors have apparently begun to recognize positive factors similar to those we have mentioned in this report, including earnings growth. This has helped drive up the company's shares by a sharp 37.59% over the past year, a rise that has exceeded that of the S&P 500 Index. Regarding the stock's future course, although almost any stock can fall in a broad market decline, SNCR should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
- SYNCHRONOSS TECHNOLOGIES has improved earnings per share by 21.1% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, SYNCHRONOSS TECHNOLOGIES increased its bottom line by earning $0.91 versus $0.58 in the prior year. This year, the market expects an improvement in earnings ($2.13 versus $0.91).
- The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Software industry. The net income increased by 39.3% when compared to the same quarter one year prior, rising from $7.58 million to $10.56 million.
- You can view the full Synchronoss Technologies Ratings Report.