Synchronoss Technologies (NASDAQ:SNCR) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Synchronoss Technologies (NASDAQ:SNCR) from a hold rating to a buy rating in a research note published on Friday.

Several other equities analysts have also recently commented on the company. Roth Mkm upgraded Synchronoss Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $11.00 to $13.00 in a research note on Monday, November 25th. Roth Capital upgraded Synchronoss Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 25th.

Synchronoss Technologies Stock Up 6.5 %

Shares of NASDAQ:SNCR opened at $10.89 on Friday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 5.75. Synchronoss Technologies has a 52-week low of $6.02 and a 52-week high of $15.46. The company has a 50 day moving average of $9.43 and a two-hundred day moving average of $10.72. The company has a market capitalization of $118.04 million, a price-to-earnings ratio of -2.81 and a beta of 2.05.

Synchronoss Technologies (NASDAQ:SNCR) last issued its quarterly earnings data on Tuesday, March 11th. The software maker reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.75. Synchronoss Technologies had a negative net margin of 20.00% and a negative return on equity of 10.99%. The company had revenue of $44.21 million during the quarter, compared to the consensus estimate of $43.76 million. As a group, analysts forecast that Synchronoss Technologies will post 0.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jeffrey George Miller sold 17,389 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $10.34, for a total transaction of $179,802.26. Following the transaction, the chief executive officer now directly owns 336,232 shares in the company, valued at $3,476,638.88. This trade represents a 4.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Synchronoss Technologies

Several large investors have recently added to or reduced their stakes in SNCR. Barclays PLC lifted its stake in Synchronoss Technologies by 603.6% in the third quarter. Barclays PLC now owns 5,734 shares of the software maker’s stock valued at $85,000 after buying an additional 4,919 shares during the last quarter. Occudo Quantitative Strategies LP bought a new stake in Synchronoss Technologies in the fourth quarter valued at $98,000. American Century Companies Inc. bought a new stake in Synchronoss Technologies in the fourth quarter valued at $103,000. GSA Capital Partners LLP bought a new stake in Synchronoss Technologies in the third quarter valued at $165,000. Finally, XTX Topco Ltd bought a new stake in Synchronoss Technologies in the third quarter valued at $237,000. 51.71% of the stock is currently owned by institutional investors.

Synchronoss Technologies Company Profile

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.