SYNNEX (SNX) Stock Forecast & Price Target

TD Synnex Corp demonstrated strong financial performance in fiscal Q3/25, with non-GAAP gross billings increasing by 12% year-over-year, contributing to a solid growth trajectory. For fiscal Q4/25, management anticipates non-GAAP gross billings to reach between $23.0 billion and $24.0 billion, reflecting an 11% year-over-year growth at the midpoint, alongside revenue projected to increase by 7% year-over-year. Additionally, the expected non-GAAP EPS range of $3.45 to $3.95 indicates a robust 20% year-over-year increase at the midpoint, underscoring the company's positive financial outlook and operational strengths.

TD Synnex has revised its fiscal 2026 non-GAAP EPS forecast downward and projected a significant decline in free cash flow for fiscal 2025, estimating $800 million compared to a previous expectation of $1.1 billion. The company's revenue from its geographical segments has also decreased, with sales in the Americas, Europe, and Asia-Pacific and Japan falling by approximately 6%, 3%, and 10%, respectively, compared to fiscal Q4/24. Despite trading at a discount to its peer group average, the reduction in key financial metrics points to challenges that may dampen investor confidence in the stock's future performance.