Synchronoss Technologies Shares Soared: What You Need to Know

By Tim Beyers – Updated Apr 6, 2017 at 10:39AM

NYSE: VZ

Verizon Communications

Market Cap

$166B

Today's Change

(0.43%) $0.17

Current Price

$39.48

Price as of May 8, 2024, 4:00 p.m. ET

Is this meaningful? Or just another movement?

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Synchronoss Technologies (Nasdaq: SNCR) rose more than 18% in intraday trading after reporting better-than-expected third-quarter earnings.

So what: The company, which handles wireless and wired device activations for AT&T (NYSE: T) and Vodafone Group (NYSE: VOD), among others, reported $46.8 million in revenue and $0.20 in adjusted earnings per share. Both results beat analyst estimates.

Now what: With Verizon (NYSE: VZ) expected to get the iPhone early next year and Android rapidly picking up market share in the U.S., Synchronoss could enable millions more wireless activations, leading to continued growth in earnings.

Interested in more info on Synchronoss Technologies? Add it to your watchlist here by clicking here.

Vodafone is a Motley Fool Inside Value pick.

Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team. He didn’t own shares in any of the companies mentioned in this article at the time of publication. Check out Tim's portfolio holdings and Foolish writings, or connect with him on Twitter as @milehighfool. You can also get his insights delivered directly to your RSS reader. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool is also on Twitter as @TheMotleyFool. Its disclosure policy is at least 10% better than other disclosure policies.