StockNews.com Initiates Coverage on Synchronoss Technologies (NASDAQ:SNCR)

StockNews.com initiated coverage on shares of Synchronoss Technologies (NASDAQ:SNCR) in a research note issued to investors on Thursday. The firm set a “hold” rating on the software maker’s stock.

Separately, LADENBURG THALM/SH SH cut their price objective on shares of Synchronoss Technologies from $4.60 to $4.00 in a research report on Wednesday, May 10th.

Synchronoss Technologies Stock Performance

SNCR opened at $1.00 on Thursday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 2.65. The company has a market cap of $93.40 million, a price-to-earnings ratio of -2.13 and a beta of 1.47. Synchronoss Technologies has a 52-week low of $0.51 and a 52-week high of $1.75. The firm’s fifty day simple moving average is $0.98 and its two-hundred day simple moving average is $0.96.

Synchronoss Technologies (NASDAQ:SNCR) last issued its earnings results on Tuesday, August 8th. The software maker reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The business had revenue of $59.71 million during the quarter, compared to analyst estimates of $59.86 million. Synchronoss Technologies had a negative net margin of 13.43% and a negative return on equity of 18.53%. Equities analysts anticipate that Synchronoss Technologies will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. AWM Investment Company Inc. lifted its stake in Synchronoss Technologies by 108.6% in the fourth quarter. AWM Investment Company Inc. now owns 3,160,270 shares of the software maker’s stock worth $1,953,000 after acquiring an additional 1,645,476 shares during the last quarter. Equitec Proprietary Markets LLC lifted its stake in Synchronoss Technologies by 147.8% in the second quarter. Equitec Proprietary Markets LLC now owns 1,288,514 shares of the software maker’s stock worth $1,197,000 after acquiring an additional 768,534 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in Synchronoss Technologies in the fourth quarter worth approximately $385,000. Vanguard Group Inc. raised its holdings in Synchronoss Technologies by 21.1% during the third quarter. Vanguard Group Inc. now owns 3,466,771 shares of the software maker’s stock worth $3,952,000 after purchasing an additional 604,621 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in Synchronoss Technologies during the first quarter worth approximately $1,032,000. Hedge funds and other institutional investors own 40.26% of the company’s stock.

Synchronoss Technologies Company Profile

Synchronoss Technologies, Inc provides cloud, messaging, digital, and network management solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company's product EngageX, offers personal cloud, which helps in backup, manage, and engage with content; multi-channel messaging, peer-to-peer communications, and application-to-person commerce solutions; and email solutions.