Syneos Health, Inc. (NASDAQ:SYNH) is one of the stocks that are grabbing investor focus today: skyrocketing 10.61% or (4.19 points) to $43.65 from its previous close of $39.46. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 200004 contracts so far this session. SYNH shares had a relatively better volume day versus average trading capacity of 709.93 thousand shares, but with a 61.25 million float and a -6.93% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for SYNH stock indicates that the average analyst price target is $73.42 per share. This means the stock has a potential increase of 68.2% from where the SYNH share price has been trading recently.
During the recent trading session for Syneos Health, Inc. (NASDAQ:SYNH), the company witnessed their stock rise $10.78 over a week and tumble down $-21.15 from the price 20 days ago. When compared to their established 52-week high of $74.25, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 04/03/20. The recent low of $30.02 stood for a -41.22% since 03/18/20, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.68 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Syneos Health, Inc., the two-week RSI stands at 41.21. This figure suggests that SYNH stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current SYNH readings is similarly very revealing as it has a stochastic reading of 21.21% at this stage. This figure means that SYNH share price today is being overbought.
Technical chart claims that Syneos Health, Inc. (SYNH) would settle between $40.9/share to $42.35/share level. However, if the stock price goes below the $36.79 mark, then the market for Syneos Health, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $34.13 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -1.06. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Citigroup, assumed coverage of SYNH assigning Buy rating, according to their opinion released on January 07. William Blair analysts bumped their rating on Syneos Health, Inc. (NASDAQ:SYNH) stock from Mkt Perform to Outperform in a separate flash note issued to investors on October 19. Analysts at UBS, made their first call for the equity with a Buy recommendation, according to a research note that dated back to October 09.
SYNH equity has an average rating of 2, with the figure leaning towards a bullish end. 14 analysts who tracked the company were contacted by Reuters. Amongst them, 4 rated the stock as a hold while the remaining 10 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 10 analysts rated Syneos Health, Inc. (NASDAQ:SYNH) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, SYNH stock price is currently trading at 9.65X forward 12-month Consensus EPS estimates, and its P/E ratio is 31.6 while for the average stock in the same group, the multiple is 36.9. Syneos Health, Inc. current P/B ratio of 1.4 means it is trading at a discount against its industry’s 3.8.
Syneos Health, Inc. (SYNH)’s current-quarter revenues are projected to climb by nearly 3.1% to hit $1.15 billion, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 4.7% from $4.68 billion to a noteworthy $4.9 billion. At the other end of the current quarter income statement, Syneos Health, Inc. is expected to see its adjusted earnings surge by roughly 13.6% to hit $0.67 per share. For the fiscal year, SYNH’s earnings are projected to climb by roughly 10.5% to hit $3.57 per share.