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
So what: Non-GAAP revenue rose 52% to $53.4 million while adjusted profit rose 43% to $0.20 per share. Both results beat estimates, but it was the higher guidance that appeared to please investors most. Management now expects the company to book $218 million to $223 million in 2011 revenue, up from an earlier estimate of $214 million to $220 million.
Now what: For as volatile as the stock has been, long-term holders of Synchronoss have to be happy today. The stock popped more than 10% in a day twice after December's news that company founder James McCormick had adopted a 10b5-1 plan to programmatically sell some of his shares.
Even so, it'll take a lot to keep the rally going. At more than 270 times earnings, Synchronoss not only trades for a premium to the industry average but also to competitors Amdocs
Interested in more info on Synchronoss Technologies? Add it to your watchlist.
Tim didn't own shares in any of the companies mentioned in this article at the time of publication. Check out his 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.