Synchronoss Technologies (SNCR) Scheduled to Post Quarterly Earnings on Tuesday

Synchronoss Technologies (NASDAQ:SNCRGet Rating) is set to post its quarterly earnings results after the market closes on Tuesday, May 10th. Analysts expect Synchronoss Technologies to post earnings of ($0.03) per share for the quarter. Synchronoss Technologies has set its FY 2022 guidance at EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

Synchronoss Technologies (NASDAQ:SNCRGet Rating) last posted its quarterly earnings results on Tuesday, March 8th. The software maker reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.06. Synchronoss Technologies had a negative net margin of 8.13% and a negative return on equity of 10.81%. The business had revenue of $73.83 million during the quarter, compared to analyst estimates of $71.91 million. During the same quarter in the previous year, the business posted ($0.11) EPS. On average, analysts expect Synchronoss Technologies to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

NASDAQ:SNCR opened at $1.33 on Tuesday. Synchronoss Technologies has a one year low of $1.15 and a one year high of $3.99. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a 50-day simple moving average of $1.56 and a 200-day simple moving average of $2.10.

In related news, EVP Christopher K. Hill purchased 100,000 shares of the business’s stock in a transaction on Friday, March 11th. The shares were acquired at an average price of $1.19 per share, for a total transaction of $119,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jeffrey George Miller purchased 72,180 shares of the business’s stock in a transaction on Monday, March 14th. The shares were bought at an average price of $1.35 per share, for a total transaction of $97,443.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 334,422 shares of company stock worth $422,357 and have sold 20,715 shares worth $31,861. Corporate insiders own 30.70% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in shares of Synchronoss Technologies by 3,033.0% in the 4th quarter. JPMorgan Chase & Co. now owns 30,202 shares of the software maker’s stock valued at $73,000 after acquiring an additional 29,238 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Synchronoss Technologies by 138.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 37,860 shares of the software maker’s stock valued at $93,000 after acquiring an additional 22,000 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of Synchronoss Technologies by 167.1% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 38,800 shares of the software maker’s stock valued at $93,000 after acquiring an additional 24,276 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Synchronoss Technologies in the 4th quarter valued at $109,000. Finally, Morgan Stanley boosted its holdings in shares of Synchronoss Technologies by 1,307.3% in the 2nd quarter. Morgan Stanley now owns 136,859 shares of the software maker’s stock valued at $491,000 after acquiring an additional 127,134 shares during the last quarter. 51.06% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently commented on SNCR shares. StockNews.com started coverage on shares of Synchronoss Technologies in a research note on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research lowered shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, January 12th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $5.57.

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.

Further Reading

Earnings History for Synchronoss Technologies (NASDAQ:SNCR)

Receive News & Ratings for Synchronoss Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchronoss Technologies and related companies with MarketBeat.com's FREE daily email newsletter.