SYNNEX (SNX) Stock Forecast & Price Target

TD Synnex Corp has demonstrated strong financial performance, with non-GAAP gross billings increasing by 12% year-over-year in fiscal Q3/25, indicating solid demand across its product offerings. In addition, the company's fiscal Q4/25 guidance projects non-GAAP gross billings to be between $23.0 billion and $24.0 billion, reflecting an 11% year-over-year growth at the midpoint, alongside a healthy estimated increase in non-GAAP EPS of 20% year-over-year. Furthermore, fiscal Q4/25 gross billings are expected to continue their upward trajectory, growing 15% year-over-year on a reported basis, signaling robust market positioning and operational strength.

TD Synnex has reduced its fiscal 2026 non-GAAP EPS forecast, indicating potential challenges in earnings growth. The projected free cash flow for fiscal 2025 has been lowered significantly from $1.1 billion to $800 million, reflecting a deterioration in cash generation capacity. Additionally, revenue declines across geographical segments, with sales down approximately 6% in the Americas, 3% in Europe, and 10% in Asia-Pacific and Japan, further underline the company's weakening financial performance.