Synchronoss Technologies (NASDAQ:SNCR) Announces Earnings Results, Beats Estimates By $0.75 EPS

Synchronoss Technologies (NASDAQ:SNCR) issued its quarterly earnings data on Tuesday. The software maker reported $0.85 EPS for the quarter, topping the consensus estimate of $0.10 by $0.75, Zacks reports. The business had revenue of $44.21 million during the quarter, compared to analyst estimates of $43.76 million. Synchronoss Technologies had a negative net margin of 20.00% and a negative return on equity of 10.99%. Synchronoss Technologies updated its FY 2025 guidance to EPS.

Synchronoss Technologies Price Performance

SNCR opened at $9.98 on Thursday. The firm has a market cap of $108.17 million, a PE ratio of -2.57 and a beta of 2.05. The stock has a 50-day moving average price of $9.41 and a 200-day moving average price of $10.73. Synchronoss Technologies has a 1 year low of $6.02 and a 1 year 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.

Insider Activity at Synchronoss Technologies

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SNCR shares. Roth Capital upgraded Synchronoss Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 25th. Roth Mkm upgraded Synchronoss Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $11.00 to $13.00 in a report on Monday, November 25th.

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.