Synchronoss Technologies (NASDAQ:SNCR) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Synchronoss Technologies (NASDAQ:SNCR) from a hold rating to a buy rating in a report released on Friday morning.

SNCR has been the topic of a number of other research reports. Roth Mkm upgraded shares of Synchronoss Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $11.00 to $13.00 in a research note on Monday, November 25th. Roth Capital upgraded shares of Synchronoss Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 25th.

Synchronoss Technologies Price Performance

NASDAQ SNCR opened at $10.89 on Friday. Synchronoss Technologies has a 12 month low of $6.02 and a 12 month high of $15.46. The company has a debt-to-equity ratio of 5.75, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market capitalization of $118.04 million, a PE ratio of -2.81 and a beta of 2.05. The company’s 50 day simple moving average is $9.43 and its 200 day simple moving average is $10.72.

Synchronoss Technologies (NASDAQ:SNCR) last posted its quarterly earnings data on Tuesday, March 11th. The software maker reported $0.85 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $44.21 million for the quarter, compared to analyst estimates of $43.76 million. As a group, equities research analysts forecast that Synchronoss Technologies will post 0.1 EPS 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 that occurred on Thursday, February 13th. The shares were sold at an average price of $10.34, for a total transaction of $179,802.26. Following the completion of the sale, the chief executive officer now directly owns 336,232 shares in the company, valued at approximately $3,476,638.88. This trade represents a 4.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 17.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Synchronoss Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in Synchronoss Technologies by 2.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 574,999 shares of the software maker’s stock worth $5,468,000 after purchasing an additional 11,023 shares during the period. Man Group plc boosted its stake in Synchronoss Technologies by 131.0% in the 4th quarter. Man Group plc now owns 122,667 shares of the software maker’s stock worth $1,178,000 after purchasing an additional 69,569 shares during the period. Geode Capital Management LLC boosted its stake in Synchronoss Technologies by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 106,408 shares of the software maker’s stock worth $1,022,000 after purchasing an additional 1,851 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Synchronoss Technologies by 9.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 80,633 shares of the software maker’s stock worth $774,000 after purchasing an additional 7,171 shares during the period. Finally, Marshall Wace LLP boosted its stake in Synchronoss Technologies by 55.3% in the 4th quarter. Marshall Wace LLP now owns 80,166 shares of the software maker’s stock worth $770,000 after purchasing an additional 28,551 shares during the period. Institutional investors and hedge funds own 51.71% of the company’s stock.

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.