TD SYNNEX (SNX) Earnings Preview: What to Expect and Analyst Ratings

TD SYNNEX Corporation (SNX) is gearing up to unveil its third-quarter earnings results on Thursday, September 26th, before the market opens. Wall Street analysts are expecting the Fremont, California-based technology distributor to deliver a solid performance, with projected earnings of $2.80 per share, representing a slight increase from the $2.78 per share recorded in the same period last year. TD SYNNEX itself anticipates revenue of $14.11 billion for the quarter, according to data from Benzinga Pro.

The company’s recent strategic moves, including the acquisition of IPsense Cloud Migration business in Brazil, are likely to contribute to its earnings growth. This acquisition signifies TD SYNNEX’s commitment to expanding its cloud services capabilities and creating a dedicated cloud competence center for its reseller network.

Investors will be closely monitoring the company’s performance, particularly its progress in the cloud services market. In recent trading, TD SYNNEX shares experienced a slight dip, closing at $117.29 on Wednesday, down 1.3%.

To gain insights into the current market sentiment surrounding TD SYNNEX, let’s examine the latest analyst ratings:

*

Barrington Research analyst Vincent Colicchio

maintained an

Outperform

rating with a price target of $138 on September 23rd. Colicchio’s accuracy rate is 63%.
*

RBC Capital analyst Ashish Sabadra

upgraded the stock from

Sector Perform

to

Outperform

and boosted the price target from $135 to $140 on July 15th. Sabadra’s accuracy rate is 74%.
*

UBS analyst David Vogt

maintained a

Buy

rating and raised the price target from $145 to $150 on June 26th. Vogt’s accuracy rate is 74%.
*

JP Morgan analyst Joseph Cardoso

maintained a

Neutral

rating and cut the price target from $126 to $123 on June 26th. Cardoso’s accuracy rate is 64%.
*

Barclays analyst Tim Long

maintained an

Equal-Weight

rating and raised the price target from $111 to $118 on March 27th. Long’s accuracy rate is 74%.

The diverse range of analyst ratings reflects the varying perspectives on TD SYNNEX’s future prospects. Investors considering SNX stock should carefully weigh these opinions alongside their own investment strategies.