Breaking Down Synchronoss Technologies Q2 Earnings Report
Synchronoss Technologies (NASDAQ: SNCR) is gearing up to unveil its second-quarter 2024 financial results on August 6.
The Zacks Consensus Estimate predicts a 27.84% decrease in top-line revenue from the previous year, settling at $43.09 million.
Analysts anticipate earnings to remain steady at 7 cents per share, with no changes over the last month.
Over the past four quarters, Synchronoss has exceeded earnings expectations three times, with an average positive surprise of 28.82%.
Evaluating the Outlook
According to the Zacks model, a positive Earnings ESP combined with a Zacks Rank of #1 (Strong Buy), 2 (Buy), or 3 (Hold) enhances the likelihood of surpassing earnings estimates, but this scenario does not apply to Synchronoss Technologies for the current period.
While Synchronoss Technologies holds a Zacks Rank #2 (Buy) at present, the Earnings ESP stands at +0.00%.
Stocks to Watch
As we look ahead, companies like Shopify (NYSE: SHOP) present promising opportunities, with an Earnings ESP of +7.78% and a Zacks Rank #2.
Shopify is scheduled to reveal its second-quarter 2024 results on August 7, after a 23.2% decline in share value year-to-date.