Synchronoss Technologies (NASDAQ:SNCR) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.58 and traded as high as $8.70. Synchronoss Technologies shares last traded at $8.65, with a volume of 97,747 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SNCR shares. Wall Street Zen cut shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Synchronoss Technologies in a report on Wednesday, October 8th. Roth Capital cut shares of Synchronoss Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 4th. Finally, Zacks Research upgraded shares of Synchronoss Technologies from a “strong sell” rating to a “hold” rating in a research note on Friday, October 10th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce”.

Synchronoss Technologies Price Performance

The firm has a market capitalization of $99.56 million, a price-to-earnings ratio of -8.48, a PEG ratio of 0.57 and a beta of 1.39. The business’s fifty day simple moving average is $6.84 and its 200 day simple moving average is $6.58. 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 posted its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.28. The business had revenue of $42.00 million during the quarter, compared to the consensus estimate of $43.20 million. Synchronoss Technologies had a negative net margin of 5.69% and a positive return on equity of 24.44%. On average, research analysts forecast that Synchronoss Technologies, Inc. will post 0.1 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its position in Synchronoss Technologies by 4.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 563,148 shares of the software maker’s stock worth $3,272,000 after purchasing an additional 21,949 shares in the last quarter. AWM Investment Company Inc. boosted its position in shares of Synchronoss Technologies by 3.4% in the second quarter. AWM Investment Company Inc. now owns 465,785 shares of the software maker’s stock valued at $3,191,000 after acquiring an additional 15,177 shares during the period. Geode Capital Management LLC boosted its stake in Synchronoss Technologies by 119.7% during the second quarter. Geode Capital Management LLC now owns 235,606 shares of the software maker’s stock valued at $1,614,000 after buying an additional 128,375 shares during the period. Marshall Wace LLP increased its position in shares of Synchronoss Technologies by 12.1% in the second quarter. Marshall Wace LLP now owns 212,355 shares of the software maker’s stock worth $1,455,000 after purchasing an additional 22,917 shares during the last quarter. Finally, Archon Capital Management LLC grew its position 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 worth $1,121,000 after acquiring an additional 118,117 shares in the last quarter. 51.71% of the stock is owned by institutional investors.

Synchronoss Technologies Company Profile

Synchronoss Technologies, Inc is a global software and services company that provides cloud-based digital transformation solutions for communications service providers, enterprises, and financial institutions. The company’s platform delivers a suite of products designed to automate and manage the provisioning, activation and lifecycle of devices, subscriptions and services across fixed and mobile networks. Synchronoss’s offerings include digital customer engagement tools, identity verification and authentication services, as well as high-volume messaging and collaboration applications.

Founded in 2000 and headquartered in Bridgewater, New Jersey, Synchronoss serves a diverse customer base spanning North America, Europe, Asia and Latin America.