Synchronoss Technologies (NASDAQ:SNCR) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

Synchronoss Technologies, Inc. (NASDAQ:SNCR)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.75 and traded as high as $8.79. Synchronoss Technologies shares last traded at $8.78, with a volume of 127,167 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently commented on SNCR shares. Roth Mkm cut shares of Synchronoss Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 4th. Wall Street Zen lowered 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 Thursday, January 22nd. Finally, Zacks Research raised Synchronoss Technologies from a “strong sell” rating to a “hold” rating in a report 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.com, Synchronoss Technologies has a consensus rating of “Reduce”.

Synchronoss Technologies Stock Up 0.6%

The firm’s 50 day moving average is $7.94 and its 200-day moving average is $6.75. The firm has a market cap of $101.06 million, a PE ratio of -8.61, a P/E/G ratio of 0.57 and a beta of 1.39. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 3.13.

Synchronoss Technologies (NASDAQ:SNCR) last issued its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.63 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $42.00 million during the quarter, compared to the consensus estimate of $43.20 million. As a group, equities research analysts expect that Synchronoss Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Synchronoss Technologies

A number of institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake 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 worth $1,614,000 after purchasing an additional 128,375 shares in the last quarter. Archon Capital Management LLC lifted its holdings 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 worth $1,121,000 after buying an additional 118,117 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Synchronoss Technologies in the 2nd quarter worth approximately $272,000. Citadel Advisors LLC bought a new stake in shares of Synchronoss Technologies in the 3rd quarter valued at approximately $171,000. Finally, Integrated Quantitative Investments LLC raised its position in shares of Synchronoss Technologies by 155.9% during the 2nd quarter. Integrated Quantitative Investments LLC now owns 42,157 shares of the software maker’s stock valued at $289,000 after acquiring an additional 25,682 shares in the last quarter. Institutional investors and hedge funds own 51.71% of the company’s stock.

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.