Trade-Ideas: Synchronoss Technologies (SNCR) Is Today's Pre-Market Mover With Heavy Volume Stock

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 Synchronoss Technologies ( SNCR) as a pre-market mover with heavy 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 $22.7 million.
  • SNCR traded 71,887 shares today in the pre-market hours as of 8:28 AM, representing 16.6% of its average daily volume.

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More details on SNCR:

Synchronoss Technologies, Inc. provides cloud solutions and software-based activation for connected devices worldwide. SNCR has a PE ratio of 46. 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 479,100 shares per day over the past 30 days. Synchronoss has a market cap of $1.9 billion and is part of the technology sector and computer software & services industry. The stock has a beta of 1.26 and a short float of 13.7% with 10.89 days to cover. Shares are up 1.5% year-to-date as of the close of trading on Monday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Synchronoss Technologies as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, good cash flow from operations and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.

Highlights from the ratings report include:
  • The revenue growth greatly exceeded the industry average of 4.9%. 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.
  • 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.
  • Net operating cash flow has significantly increased by 98.81% to -$0.14 million when compared to the same quarter last year. In addition, SYNCHRONOSS TECHNOLOGIES has also vastly surpassed the industry average cash flow growth rate of -17.70%.
  • The gross profit margin for SYNCHRONOSS TECHNOLOGIES is rather high; currently it is at 59.64%. It has increased from the same quarter the previous year. Despite the strong results of the gross profit margin, SNCR's net profit margin of 7.94% significantly trails the industry average.

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