Synchronoss Technologies (NASDAQ:SNCR) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Synchronoss Technologies, Inc. (NASDAQ:SNCR) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.81 and traded as high as $8.97. Synchronoss Technologies shares last traded at $8.85, with a volume of 92,619 shares changing hands.

Wall Street Analyst Weigh In

SNCR has been the subject of several research reports. Zacks Research raised shares of Synchronoss Technologies from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. Wall Street Zen lowered shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Synchronoss Technologies in a research report on Thursday, January 22nd. Finally, Roth Mkm lowered shares of Synchronoss Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 4th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce”.

Synchronoss Technologies Stock Up 0.1%

The stock has a 50 day moving average price of $8.42 and a 200 day moving average price of $6.81. The company has a debt-to-equity ratio of 3.13, a quick ratio of 1.53 and a current ratio of 1.53. The company has a market capitalization of $101.86 million, a P/E ratio of -8.68, a PEG ratio of 0.58 and a beta of 1.41.

Synchronoss Technologies (NASDAQ:SNCR) last posted 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. The company had revenue of $42.00 million during the quarter, compared to analyst estimates of $43.20 million. Synchronoss Technologies had a negative net margin of 5.69% and a positive return on equity of 24.44%. Equities research analysts forecast that Synchronoss Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Synchronoss Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Synchronoss Technologies in the second quarter valued at $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Synchronoss Technologies in the 2nd quarter valued at about $40,000. Osaic Holdings Inc. lifted its holdings in Synchronoss Technologies by 289.8% during the second quarter. Osaic Holdings Inc. now owns 7,885 shares of the software maker’s stock valued at $54,000 after purchasing an additional 5,862 shares during the last quarter. Headlands Technologies LLC boosted its position in Synchronoss Technologies by 195.0% during the second quarter. Headlands Technologies LLC now owns 8,638 shares of the software maker’s stock worth $59,000 after purchasing an additional 5,710 shares during the period. Finally, American Century Companies Inc. purchased a new position in shares of Synchronoss Technologies in the second quarter worth about $88,000. 51.71% of the stock is owned by institutional investors.

About Synchronoss Technologies

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.