Barrington analyst Vincent Colicchio maintained a Buy rating on SYNNEX (SNX) today and set a price target of $115.00. The company’s shares closed last Friday at $100.59.
According to TipRanks.com, Colicchio is ranked 0 out of 5 stars with an average return of -8.6% and a 37.8% success rate. Colicchio covers the Technology sector, focusing on stocks such as Exlservice Holdings, Sykes Enterprises, and HealthStream.
Currently, the analyst consensus on SYNNEX is a Strong Buy with an average price target of $119.25.
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Based on SYNNEX’s latest earnings release for the quarter ending February 29, the company reported a quarterly revenue of $5.26 billion and net profit of $123 million. In comparison, last year the company earned revenue of $5.25 billion and had a net profit of $87.11 million.
Based on the recent corporate insider activity of 138 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SNX in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
SYNNEX Corp. engages in the provision of distribution, logistics and integration services for the technology industry. It operates through the following segments: Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals, IT systems including data center server and storage solutions, system components, software, networking equipment, consumer electronics, and complementary products. The Concentrix segment offers a portfolio of strategic solutions and end-to-end business services to customers in industry vertical markets. The company was founded by Robert T. Huang in November 1980 and is headquartered in Fremont, CA.
