Synchronoss Technologies (NASDAQ:SNCR) Research Coverage Started at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of Synchronoss Technologies (NASDAQ:SNCRGet Free Report) in a research note issued to investors on Saturday. The brokerage set a “hold” rating on the software maker’s stock.

Synchronoss Technologies Stock Up 31.8 %

Shares of NASDAQ:SNCR opened at $0.46 on Friday. The stock’s 50-day moving average price is $0.72 and its 200-day moving average price is $0.87. Synchronoss Technologies has a 12-month low of $0.30 and a 12-month high of $1.17. The stock has a market capitalization of $42.87 million, a P/E ratio of -0.88 and a beta of 1.48. The company has a current ratio of 0.65, a quick ratio of 1.18 and a debt-to-equity ratio of 2.65.

Synchronoss Technologies (NASDAQ:SNCRGet Free Report) last announced its quarterly earnings results on Tuesday, August 8th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). Synchronoss Technologies had a negative net margin of 15.26% and a negative return on equity of 18.78%. The business had revenue of $59.71 million for the quarter, compared to analysts’ expectations of $59.86 million. On average, equities analysts anticipate that Synchronoss Technologies will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Jane Street Group LLC boosted its position in Synchronoss Technologies by 52.7% during the 3rd quarter. Jane Street Group LLC now owns 48,159 shares of the software maker’s stock valued at $55,000 after acquiring an additional 16,630 shares in the last quarter. Millennium Management LLC boosted its position in Synchronoss Technologies by 6.1% during the 2nd quarter. Millennium Management LLC now owns 415,725 shares of the software maker’s stock valued at $478,000 after acquiring an additional 24,015 shares in the last quarter. Citadel Advisors LLC boosted its position in Synchronoss Technologies by 25.7% during the 2nd quarter. Citadel Advisors LLC now owns 118,979 shares of the software maker’s stock valued at $111,000 after acquiring an additional 24,307 shares in the last quarter. Prudential Financial Inc. bought a new stake in Synchronoss Technologies during the 2nd quarter valued at approximately $30,000. Finally, Renaissance Technologies LLC boosted its position in Synchronoss Technologies by 6.4% during the 2nd quarter. Renaissance Technologies LLC now owns 454,327 shares of the software maker’s stock valued at $422,000 after acquiring an additional 27,300 shares in the last quarter. Hedge funds and other institutional investors own 40.26% of the company’s stock.

About Synchronoss Technologies

(Get Free Report)

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.

Further Reading

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