NEW YORK ( TheStreet) -- Shares of Synchronoss Technologies (Nasdaq: SNCR) were gapping up Wednesday morning with an open price 12.9% higher than Tuesday's closing price. The stock closed at $34.18 Tuesday and opened today's trading at $38.60.

The average volume for Synchronoss has been 326,400 shares per day over the past 30 days. Synchronoss has a market cap of $1.24 billion and is part of the technology sector and computer software & services industry. Shares are up 13.1% year to date as of the close of trading on Tuesday.

Synchronoss Technologies, Inc. The company has a P/E ratio of 309.2, below the average computer software & services industry P/E ratio of 407 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Synchronoss as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, increase in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Synchronoss Ratings Report.

Get more investment ideas from our investment research center.

Interested in other stocks that are gapping up? Get free SMS text alerts sent to you when the action happens by texting UP to 95370 or select from multiple alert options.