Stocks to Buy Before They Join This Market Rally: Synchronoss Technologies (SNCR)
YTD Performance: -31%
Synchronoss Technologies, Inc. (NASDAQ:SNCR) is another fallen angel in the software space. But SNCR isn’t a new, hot growth company: it has been public for over a decade and a longtime heavyweight in the enterprise mobility space.
Synchronoss solutions focus on enterprise mobility management, enabling bring-your-own-device (BYOD) policies. The company has relatively new joint ventures with Goldman Sachs Group Inc (NYSE:GS) and Verizon Communications Inc. (NYSE:VZ), and just completed a major acquisition of Intralinks Holdings. That acquisition, combined with divestitures of activation business, makes Synchronoss a cloud pure-play going forward.
Yet SNCR stock isn’t valued that way, particularly with the stock’s decline in 2017. While Q4 earnings were somewhat disappointing, they certainly weren’t enough to support a 30%-plus decline.
As the Synchronoss story plays out, SNCR stock will rebound.