Synchronoss Technologies, Inc. (NASDAQ:SNCR) Given Average Recommendation of “Buy” by Brokerages

Synchronoss Technologies, Inc. (NASDAQ:SNCRGet Rating) has been assigned an average recommendation of “Buy” from the seven analysts that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $6.03.

Several equities research analysts have recently commented on SNCR shares. StockNews.com started coverage on Synchronoss Technologies in a report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research downgraded Synchronoss Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, January 12th.

In other news, EVP Patrick Joseph Doran purchased 45,000 shares of the business’s stock in a transaction dated Monday, March 14th. The stock was bought at an average cost of $1.40 per share, with a total value of $63,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Martin Francis Bernstein acquired 105,502 shares of the stock in a transaction dated Friday, March 11th. The shares were bought at an average cost of $1.18 per share, for a total transaction of $124,492.36. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 334,422 shares of company stock valued at $422,357 and have sold 20,715 shares valued at $31,861. 30.70% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in SNCR. Victory Capital Management Inc. bought a new position in shares of Synchronoss Technologies during the 3rd quarter worth approximately $27,000. Qube Research & Technologies Ltd bought a new position in Synchronoss Technologies in the 4th quarter valued at $37,000. Wedbush Securities Inc. bought a new position in Synchronoss Technologies in the 1st quarter valued at $48,000. Financial Advocates Investment Management raised its position in Synchronoss Technologies by 50.0% in the 3rd quarter. Financial Advocates Investment Management now owns 30,000 shares of the software maker’s stock valued at $72,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Mirabella Financial Services LLP bought a new position in Synchronoss Technologies in the 4th quarter valued at $73,000. Institutional investors own 52.72% of the company’s stock.

Shares of SNCR stock opened at $1.33 on Tuesday. The stock has a 50-day simple moving average of $1.62 and a 200 day simple moving average of $2.14. Synchronoss Technologies has a fifty-two week low of $1.15 and a fifty-two week high of $3.99. The stock has a market capitalization of $117.37 million, a P/E ratio of -1.11 and a beta of 1.07. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.47.

Synchronoss Technologies (NASDAQ:SNCRGet Rating) last announced its earnings results on Tuesday, March 8th. The software maker reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.06. Synchronoss Technologies had a negative return on equity of 10.81% and a negative net margin of 8.13%. The business had revenue of $73.83 million during the quarter, compared to analysts’ expectations of $71.91 million. During the same quarter last year, the business posted ($0.11) earnings per share. On average, sell-side analysts anticipate that Synchronoss Technologies will post -0.04 earnings per share for the current year.

Synchronoss Technologies Company Profile (Get Rating)

Synchronoss Technologies, Inc provides cloud, messaging, digital, and network management platforms, products, and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company's platforms, products, and solutions include content backup, view, manage, engage, transfer, and restore solutions in operating systems and devices; multi-channel messaging, peer-to-peer communications, and application-to-person commerce solutions; email solutions; customer journey and workflow design, development, orchestration, and experience management solutions; and telecom network infrastructure designing, procuring, managing, and optimizing solutions.

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