This is What Makes TD Synnex Corp Stocks A Gamechanger?

At the time of writing, TD Synnex Corp [SNX] stock is trading at $103.90, up 1.07%. An important factor to consider is whether the stock is rising or falling in short-term value. The SNX shares have gain 1.89% over the last week, with a monthly amount glided 2.18%, and seem to be holding up well over a long-time horizon.

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On 29, February 2024, TD SYNNEX Increases AI Offerings Through Expanded NVIDIA Collaboration. In a post published today on Yahoo Finance, TD SYNNEX (NYSE: SNX), a leading global distributor and solutions aggregator for the IT ecosystem, announced today further expansion of its AI offerings through an expanded collaboration with NVIDIA in North America.

From an analyst’s perspective:

TD Synnex Corp [NYSE: SNX] stock has seen the most recent analyst activity on January 08, 2024, when JP Morgan downgraded its rating to a Neutral and also boosted its price target to $113 from $112. Previously, UBS started tracking the stock with Neutral rating on November 22, 2023, and set its price target to $105. On May 01, 2023, Goldman initiated with a Buy rating and assigned a price target of $101 on the stock. Barclays started tracking the stock assigning a Equal Weight rating and suggested a price target of $109 on February 15, 2023. RBC Capital Mkts initiated its recommendation with a Sector Perform and recommended $95 as its price target on October 04, 2022. Credit Suisse started tracking with a Neutral rating for this stock on August 17, 2022, and assigned it a price target of $115. In a note dated July 14, 2022, JP Morgan initiated an Overweight rating and provided a target price of $119 on this stock.

For the past year, the stock price of TD Synnex Corp fluctuated between $86.30 and $108.92. Currently, Wall Street analysts expect the stock to reach $120 within the next 12 months. TD Synnex Corp [NYSE: SNX] shares were valued at $103.90 at the most recent close of the market. An investor can expect a potential return of 15.5% based on the average SNX price forecast.

Analyzing the SNX fundamentals

According to TD Synnex Corp [NYSE:SNX], the company’s sales were 57.56B for trailing twelve months, which represents an -11.33% plunge. Gross Profit Margin for this corporation currently stands at 0.07% with Operating Profit Margin at 0.02%, Pretax Profit Margin comes in at 0.01%, and Net Profit Margin reading is 0.01%. To continue investigating profitability, this company’s Return on Assets is posted at 0.02, Equity is 0.08 and Total Capital is 0.07. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.5.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 103.08 points at the first support level, and at 102.26 for the second support level. However, for the 1st resistance point, the stock is sitting at 104.42, and for the 2nd resistance point, it is at 104.93.

TD Synnex Corp [SNX] reported earnings per share of $3.13 for its fiscal quarter that ended on 11/29/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $2.68/share, meaning a difference of $0.45 and a surprise factor of 16.80%. By comparison, the stated earnings for the previous quarter ended on 8/30/2023 were $2.78 per share as compared to estimates of $2.48 per share, a difference of $0.3 representing a surprise of 12.10%.

Ratios To Look Out For

It is important to note that TD Synnex Corp [NYSE:SNX] has a current ratio of 1.20. On the other hand, the Quick Ratio is 0.77, and the Cash Ratio is 0.06. Considering the valuation of this stock, the price to sales ratio is 0.16, the price to book ratio is 1.13 and price to earnings (TTM) ratio is 15.48.

Transactions by insiders

Recent insider trading involved HUME RICHARD T, Chief Executive Officer, that happened on Feb 20 when 10000.0 shares were sold. Chief Executive Officer, HUME RICHARD T completed a deal on Feb 05 to sell 10000.0 shares. Meanwhile, Americas President Urban Michael sold 4355.0 shares on Jan 24.

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