Equities Analysts Offer Predictions for SNCR FY2024 Earnings

Synchronoss Technologies, Inc. (NASDAQ:SNCR) – Research analysts at Roth Capital dropped their FY2024 EPS estimates for shares of Synchronoss Technologies in a report issued on Monday, November 25th. Roth Capital analyst R. Baldry now expects that the software maker will post earnings per share of $0.10 for the year, down from their prior estimate of $0.74. Roth Capital currently has a “Strong-Buy” rating on the stock. The consensus estimate for Synchronoss Technologies’ current full-year earnings is $0.10 per share. Roth Capital also issued estimates for Synchronoss Technologies’ Q4 2024 earnings at ($0.04) EPS, Q1 2025 earnings at $0.03 EPS, Q2 2025 earnings at $0.04 EPS, Q3 2025 earnings at $0.05 EPS, Q4 2025 earnings at $0.06 EPS and FY2025 earnings at $0.17 EPS.

Other research analysts also recently issued research reports about the company. Roth Mkm raised Synchronoss Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $11.00 to $13.00 in a research note on Monday, November 25th. StockNews.com downgraded shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a report on Friday, August 16th.

Synchronoss Technologies Stock Performance

Shares of SNCR stock opened at $9.88 on Thursday. The stock has a fifty day moving average price of $11.44 and a 200 day moving average price of $10.85. The company has a debt-to-equity ratio of 5.75, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a market cap of $107.10 million, a PE ratio of -2.53 and a beta of 1.99. Synchronoss Technologies has a 1 year low of $3.55 and a 1 year high of $15.46.

Insider Buying and Selling at Synchronoss Technologies

In related news, Director Martin Francis Bernstein sold 2,319 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $14.20, for a total transaction of $32,929.80. Following the transaction, the director now owns 63,456 shares of the company’s stock, valued at approximately $901,075.20. This represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Patrick Joseph Doran sold 3,250 shares of Synchronoss Technologies stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $14.77, for a total transaction of $48,002.50. Following the completion of the sale, the executive vice president now directly owns 107,483 shares of the company’s stock, valued at $1,587,523.91. The trade was a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,165 shares of company stock worth $513,165. 17.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its stake in Synchronoss Technologies by 2.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 563,976 shares of the software maker’s stock valued at $8,395,000 after purchasing an additional 13,984 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Synchronoss Technologies by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 104,557 shares of the software maker’s stock valued at $1,557,000 after acquiring an additional 4,159 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Synchronoss Technologies by 9.3% during the 2nd quarter. Renaissance Technologies LLC now owns 78,974 shares of the software maker’s stock worth $734,000 after acquiring an additional 6,700 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Synchronoss Technologies by 40.6% in the second quarter. Dimensional Fund Advisors LP now owns 70,504 shares of the software maker’s stock worth $654,000 after acquiring an additional 20,368 shares during the last quarter. Finally, State Street Corp grew its holdings in Synchronoss Technologies by 12.9% in the third quarter. State Street Corp now owns 35,075 shares of the software maker’s stock valued at $522,000 after purchasing an additional 4,000 shares during the period. Hedge funds and other institutional investors own 51.71% of the company’s stock.

About Synchronoss Technologies

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 offers Synchronoss Personal Cloud platform that allows customers' subscribers to backup and protect, engage with, and manage their personal content.