Weiss Ratings Reiterates “Sell (D-)” Rating for Synchronoss Technologies (NASDAQ:SNCR)

Synchronoss Technologies (NASDAQ:SNCR)‘s stock had its “sell (d-)” rating reiterated by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Saturday,Weiss Ratings reports.

Several other brokerages also recently commented on SNCR. Zacks Research upgraded shares of Synchronoss Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, October 10th. Wall Street Zen downgraded shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Synchronoss Technologies currently has an average rating of “Moderate Buy” and an average price target of $13.00.

Synchronoss Technologies Price Performance

Shares of Synchronoss Technologies stock opened at $5.43 on Friday. The stock has a market cap of $62.45 million, a price-to-earnings ratio of -2.60 and a beta of 1.55. The company has a debt-to-equity ratio of 3.67, a quick ratio of 1.72 and a current ratio of 1.72. The stock has a 50 day moving average price of $5.85 and a 200-day moving average price of $7.15. Synchronoss Technologies has a one year low of $4.84 and a one year high of $12.85.

Synchronoss Technologies (NASDAQ:SNCR) last issued its quarterly earnings results on Monday, August 11th. The software maker reported $0.10 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.15). The firm had revenue of $42.49 million for the quarter, compared to the consensus estimate of $42.79 million. Synchronoss Technologies had a negative net margin of 12.36% and a negative return on equity of 3.77%. Synchronoss Technologies has set its FY 2025 guidance at EPS. Equities analysts expect that Synchronoss Technologies will post 0.1 EPS for the current year.

Institutional Investors Weigh In On Synchronoss Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of SNCR. Ancora Advisors LLC raised its position in Synchronoss Technologies by 762.4% during the 1st quarter. Ancora Advisors LLC now owns 146,871 shares of the software maker’s stock valued at $1,599,000 after purchasing an additional 129,840 shares in the last quarter. Geode Capital Management LLC raised its position in Synchronoss Technologies by 119.7% during the 2nd quarter. Geode Capital Management LLC now owns 235,606 shares of the software maker’s stock valued at $1,614,000 after purchasing an additional 128,375 shares in the last quarter. Archon Capital Management LLC raised its position in Synchronoss Technologies by 259.5% during the 2nd quarter. Archon Capital Management LLC now owns 163,631 shares of the software maker’s stock valued at $1,121,000 after purchasing an additional 118,117 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Synchronoss Technologies during the 1st quarter valued at $914,000. Finally, Informed Momentum Co LLC bought a new stake in Synchronoss Technologies during the 1st quarter valued at $569,000. 51.71% of the stock is owned by institutional investors.

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