NEW YORK (TheStreet) --SYNNEX (SNX) shares are up 5.5% to $65.64 in after hours trading on Monday after reporting a 19.5% increase in earnings to $1.59 per diluted share, 11 cents better than analysts were expecting.
Revenue for the quarter rose by 29.3% to $3.53 billion, ahead of analysts expectations of $3.4 billion.
The IT supply chain services company said that it expects fourth quarter revenue to be between $3.65 billion and $3.75 billion.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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 several positive factors, 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, compelling growth in net income, attractive valuation levels, growth in earnings per share and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: SNX Ratings Report