SYNNEX Corp (SNX) Gets a Buy Rating from Barrington

By Jason Carr

In a report issued on June 26, Vincent Colicchio from Barrington maintained a Buy rating on SYNNEX Corp (SNXResearch Report), with a price target of $118. The company’s shares closed on Friday at $98.40.

Colicchio wrote:

“We are increasing our fiscal 2019 and fiscal 2020 non-GAAP EPS forecasts to $12.05 and $12.72 from $11.89 and $12.64, respectively.”

According to TipRanks.com, Colicchio is a 1-star analyst with an average return of -3.9% and a 50.0% success rate. Colicchio covers the Technology sector, focusing on stocks such as Sykes Enterprises Inc, Exlservice Holdings, and Computer Task.

SYNNEX Corp has an analyst consensus of Strong Buy, with a price target consensus of $126, representing a 28.0% upside. In a report issued on June 26, Stifel Nicolaus also maintained a Buy rating on the stock with a $120 price target.

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Based on SYNNEX Corp’s latest earnings release for the quarter ending May 31, the company reported a quarterly net profit of $114 million. In comparison, last year the company had a net profit of $92.83 million.

Based on the recent corporate insider activity of 95 insiders, corporate insider sentiment is negative on the stock. Most recently, in April 2019, Kevin Murai, a Director at SNX sold 5,000 shares for a total of $539,300.

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 offers outsourced services focused on customer engagement strategy. It operates its business through the following segments: Technology Solutions and Concentrix.