StockNews.com Begins Coverage on Synchronoss Technologies (NASDAQ:SNCR)

Posted by on Jun 21st, 2023

Equities research analysts at StockNews.com assumed coverage on shares of Synchronoss Technologies (NASDAQ:SNCR – Get Rating) in a report issued on Wednesday. The firm set a “hold” rating on the software maker’s stock.

Other equities analysts have also recently issued research reports about the stock. B. Riley cut their price target on shares of Synchronoss Technologies from $2.75 to $2.00 and set a “buy” rating for the company in a research note on Wednesday, March 8th. LADENBURG THALM/SH SH dropped their price target on shares of Synchronoss Technologies from $4.60 to $4.00 in a research report on Wednesday, May 10th.

Synchronoss Technologies Price Performance

Shares of NASDAQ SNCR opened at $0.98 on Wednesday. Synchronoss Technologies has a 1 year low of $0.51 and a 1 year high of $1.87. The stock has a market capitalization of $91.62 million, a P/E ratio of -3.50 and a beta of 1.44. The company has a 50-day moving average price of $0.94 and a 200-day moving average price of $0.88. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.20 and a quick ratio of 1.20.

Synchronoss Technologies (NASDAQ:SNCR – Get Rating) last announced its quarterly earnings data on Tuesday, May 9th. The software maker reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Synchronoss Technologies had a positive return on equity of 0.88% and a negative net margin of 6.44%. The company had revenue of $57.71 million during the quarter, compared to the consensus estimate of $57.98 million. On average, equities research analysts forecast that Synchronoss Technologies will post -0.15 EPS for the current fiscal year.

Institutional Trading of Synchronoss Technologies

Several institutional investors have recently bought and sold shares of SNCR. Prudential Financial Inc. purchased a new stake in Synchronoss Technologies during the 2nd quarter valued at about $30,000. Quadrature Capital Ltd purchased a new stake in shares of Synchronoss Technologies during the 3rd quarter valued at about $32,000. Jane Street Group LLC purchased a new stake in shares of Synchronoss Technologies during the 2nd quarter valued at about $36,000. Cowen Prime Advisors LLC boosted its holdings in shares of Synchronoss Technologies by 459.6% during the 4th quarter. Cowen Prime Advisors LLC now owns 64,349 shares of the software maker’s stock valued at $40,000 after acquiring an additional 52,849 shares during the last quarter. Finally, Sei Investments Co. purchased a new stake in shares of Synchronoss Technologies during the 1st quarter valued at about $40,000. 40.53% of the stock is owned by hedge funds and other institutional investors.

Synchronoss Technologies Company Profile

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Synchronoss Technologies, Inc engages in the provision of cloud and enterprise solutions. The firm offers software-based activation for connected devices globally. Its platform includes cloud home, personal cloud content transfer and out-of-box experience, advance messaging and email suite, journey creation and advisor, digital coach, digital portal, activation, Internet of Things (IoT), and smart buildings.

Further Reading

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