Synchronoss Technologies Inc. (NASDAQ:SNCR) has been assigned a consensus rating of “Buy” from the nine research firms that are covering the stock. One analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $49.83.
Several research firms have recently commented on SNCR. Zacks Investment Research raised shares of Synchronoss Technologies from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Friday, November 11th. Wells Fargo & Co. reissued an “outperform” rating and set a $49.00 target price (up from $44.50) on shares of Synchronoss Technologies in a research report on Thursday, November 10th. Credit Suisse Group AG reissued a “buy” rating and set a $55.00 target price on shares of Synchronoss Technologies in a research report on Tuesday, November 8th. Finally, Stephens initiated coverage on shares of Synchronoss Technologies in a report on Wednesday, August 10th. They set an “overweight” rating and a $50.00 price target on the stock.
In other Synchronoss Technologies news, CFO Karen Rosenberger sold 755 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $40.86, for a total value of $30,849.30. Following the transaction, the chief financial officer now directly owns 44,219 shares in the company, valued at $1,806,788.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Donnie Moore sold 5,500 shares of the business’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $47.93, for a total transaction of $263,615.00. Following the completion of the transaction, the director now owns 29,092 shares in the company, valued at $1,394,379.56. The disclosure for this sale can be found here. 11.00% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNCR. NEXT Financial Group Inc boosted its stake in shares of Synchronoss Technologies by 112.6% in the third quarter. NEXT Financial Group Inc now owns 2,455 shares of the company’s stock worth $101,000 after buying an additional 1,300 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Synchronoss Technologies by 19.0% in the first quarter. BlackRock Inc. now owns 3,095 shares of the company’s stock worth $100,000 after buying an additional 494 shares during the last quarter. Synovus Financial Corp acquired a new stake in shares of Synchronoss Technologies during the third quarter worth approximately $183,000. ProShare Advisors LLC acquired a new stake in shares of Synchronoss Technologies during the third quarter worth approximately $202,000. Finally, Yorktown Management & Research Co Inc acquired a new stake in shares of Synchronoss Technologies during the third quarter worth approximately $206,000. Hedge funds and other institutional investors own 81.62% of the company’s stock.
Synchronoss Technologies (NASDAQ:SNCR) opened at 49.18 on Tuesday. Synchronoss Technologies has a one year low of $20.33 and a one year high of $49.65. The company has a market capitalization of $2.15 billion, a PE ratio of 3783.08 and a beta of 2.21. The stock’s 50 day moving average is $41.55 and its 200 day moving average is $38.67.
Synchronoss Technologies (NASDAQ:SNCR) last posted its earnings results on Monday, November 7th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.67 by $0.01. The company earned $180.98 million during the quarter, compared to the consensus estimate of $177.83 million. Synchronoss Technologies had a net margin of 0.19% and a return on equity of 13.97%. The firm’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 earnings per share. On average, analysts anticipate that Synchronoss Technologies will post $2.57 earnings per share for the current fiscal year.