Synchronoss Technologies (NASDAQ:SNCR) Rating Lowered to “Hold” at Wall Street Zen

Synchronoss Technologies (NASDAQ:SNCR) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Other equities analysts have also issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Synchronoss Technologies in a research note on Wednesday, October 8th. Zacks Research raised shares of Synchronoss Technologies from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Synchronoss Technologies Trading Down 0.6%

Shares of NASDAQ:SNCR opened at $8.66 on Friday. The business’s 50 day moving average price is $5.36 and its 200-day moving average price is $6.28. Synchronoss Technologies has a 1 year low of $3.98 and a 1 year high of $12.85. The firm has a market capitalization of $99.68 million, a price-to-earnings ratio of -8.49, a price-to-earnings-growth ratio of 1.08 and a beta of 1.60. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.53 and a quick ratio of 1.53.

Synchronoss Technologies (NASDAQ:SNCR) last issued its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.28. Synchronoss Technologies had a positive return on equity of 24.44% and a negative net margin of 5.69%.The firm had revenue of $42.00 million for the quarter, compared to analyst estimates of $43.20 million. On average, equities research analysts forecast that Synchronoss Technologies will post 0.1 earnings per share for the current fiscal year.

Institutional Trading of Synchronoss Technologies

A number of large investors have recently modified their holdings of SNCR. Ancora Advisors LLC boosted its holdings in shares of Synchronoss Technologies by 762.4% in the 1st quarter. Ancora Advisors LLC now owns 146,871 shares of the software maker’s stock valued at $1,599,000 after buying an additional 129,840 shares in the last quarter. Geode Capital Management LLC lifted its position in Synchronoss Technologies by 119.7% in the second quarter. Geode Capital Management LLC now owns 235,606 shares of the software maker’s stock valued at $1,614,000 after acquiring an additional 128,375 shares during the last quarter. Archon Capital Management LLC boosted its stake in Synchronoss Technologies by 259.5% in the second quarter. Archon Capital Management LLC now owns 163,631 shares of the software maker’s stock valued at $1,121,000 after acquiring an additional 118,117 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Synchronoss Technologies during the first quarter worth about $914,000. Finally, Informed Momentum Co LLC acquired a new stake in shares of Synchronoss Technologies during the first quarter worth about $569,000. 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.