Synchronosstech - SNCR

SYNCHRONOSS TECHNOLOGIES (SNCR) was added to the Barchart Van Meerten New High portfolio.  SNCR is the premier provider of on-demand transaction management software to Tier One communications service providers. Synchronoss enables service providers to drive growth in new and existing markets while delivering an improved customer experience at lower costs. The company's flagship ActivationNow and ConvergenceNow software platforms automate, synchronize and simplify electronic service creation and management of advanced wireline, wireless and IP services across existing networks.

The company is on a roll with business partnership agreements from AT&T, Panosonic, Lenovo and Nokia.

The stock came up on my Barchart new high screener with 18 new highs in the last 20 sessions for a 17.68% price increase in the last month.  It has a 100% Barchart short term technical buy signal and trades around 20.90 which is above its 50 day moving average of 17.48.  The 14 day Relative Strength Index is 76.50% and rising.

Wall Street brokerages have double digit projections for both sales and earnings increases.  They have published 5 buy and 2 hold recommendations to their clients.  Estimates of sales increases of 27.80% this year and 24.00% next year are impressive.  The earnings projections of 15.80% this year, 31.80% next year and a 5 year compounded annual EPS growth rate of 25.00% are not to be ignored.

General investor sentiment as measured on Motley Fool is high with the CAPS members voting 429 to 26 that the stock will beat the market and the All Stars are in agreement 128 to 2.  Fool notes that the last 7 articles by Wall Street columnists have been positive.

The stock has:

• Recent and consistent upward price momentum
• 100% Barchart short term technical buy signal
• Wall Street brokerage buy recommendations based on double digit projections of increases in sales and earnings
• Positive general investor sentiment
• Good press by Wall Street columnists

Jim Van Meerten is an advisor to Marketocracy Capital Management who uses his model portfolios not only to manage their mutual funds but also their clients Separately Managed Accounts. You can read his blogs about those model portfolios and investing here and on Barchart Portfolio Blogs. Please leave a comment below or email JimVanMeerten@gmail.com.

Disclosure: Jim Van Meerten through Marketocracy Capital Management has an interest in the stocks mentioned in this blog.