TD SYNNEX (NYSE:SNX) Raised to "Strong-Buy" at Zacks Research

Key Points

• Zacks Research upgraded TD SYNNEX from hold to strong-buy, adding to a generally bullish analyst backdrop. The stock now carries a consensus Buy rating and an average price target of $290.11.
• TD SYNNEX recently reported better-than-expected quarterly results, with EPS of $4.85 versus estimates of $4.14 and revenue of $19.57 billion versus $16.80 billion expected. Revenue rose 31% year over year, and the company guided Q3 2026 EPS to $4.25-$4.75.
• The stock has been performing strongly, opening at $261.60 and trading well above its 200-day moving average. However, some insiders have recently sold shares, including the CFO and a director, while institutional ownership remains high at 84%.

TD SYNNEX (NYSE:SNX - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. upgraded shares of TD SYNNEX from a "neutral" rating to an "overweight" rating and set a $298.00 price target for the company in a research note on Wednesday, May 27th. Weiss Ratings downgraded TD SYNNEX from a "buy (b+)" rating to a "buy (b)" rating in a research note on Wednesday, June 17th. Royal Bank Of Canada set a $340.00 price objective on TD SYNNEX in a report on Friday, June 26th. The Goldman Sachs Group set a $330.00 target price on TD SYNNEX in a research report on Friday, June 26th. Finally, UBS Group increased their price target on TD SYNNEX from $310.00 to $352.00 and gave the stock a "buy" rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, TD SYNNEX currently has a consensus rating of "Buy" and an average price target of $290.11.

TD SYNNEX Price Performance

Shares of NYSE:SNX opened at $261.60 on Tuesday. The company has a market capitalization of $21.03 billion, a P/E ratio of 18.73, a price-to-earnings-growth ratio of 0.75 and a beta of 1.43. The company's 50-day moving average is $252.94 and its 200 day moving average is $194.76. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.64 and a current ratio of 1.20. TD SYNNEX has a fifty-two week low of $134.31 and a fifty-two week high of $296.47.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its quarterly earnings data on Thursday, June 25th. The business services provider reported $4.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.14 by $0.71. The business had revenue of $19.57 billion during the quarter, compared to the consensus estimate of $16.80 billion. TD SYNNEX had a net margin of 1.63% and a return on equity of 15.37%. The firm's quarterly revenue was up 31.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.99 earnings per share. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. On average, equities research analysts forecast that TD SYNNEX will post 18.02 earnings per share for the current year.

Insider Activity at TD SYNNEX

In other news, CFO David Gregory Jordan sold 3,225 shares of the firm's stock in a transaction on Monday, April 6th. The stock was sold at an average price of $189.46, for a total value of $611,008.50. Following the completion of the transaction, the chief financial officer directly owned 14,035 shares of the company's stock, valued at $2,659,071.10. This trade represents a 18.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard T. Hume sold 5,000 shares of TD SYNNEX stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $280.38, for a total value of $1,401,900.00. Following the completion of the transaction, the director owned 23,537 shares of the company's stock, valued at approximately $6,599,304.06. This trade represents a 17.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 21,250 shares of company stock worth $4,935,282. Corporate insiders own 0.70% of the company's stock.

Institutional Trading of TD SYNNEX

Institutional investors have recently added to or reduced their stakes in the stock. Dorato Capital Management purchased a new position in TD SYNNEX during the 4th quarter valued at about $27,000. Ossiam increased its position in shares of TD SYNNEX by 84.3% during the third quarter. Ossiam now owns 164 shares of the business services provider's stock valued at $27,000 after buying an additional 75 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of TD SYNNEX in the fourth quarter worth about $28,000. Measured Wealth Private Client Group LLC bought a new position in shares of TD SYNNEX in the third quarter valued at approximately $30,000. Finally, Lloyd Advisory Services LLC. bought a new position in shares of TD SYNNEX in the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 84.00% of the company's stock.

TD SYNNEX Company Profile

TD SYNNEX NYSE: SNX is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company's core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.

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