Synchronoss Technologies, Inc. (NASDAQ:SNCR) has been assigned a consensus recommendation of “Hold” from the ten analysts that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $23.00.
Several research firms have weighed in on SNCR. Drexel Hamilton cut Synchronoss Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Zacks Investment Research cut Synchronoss Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, April 1st. Wells Fargo & Co reaffirmed an “outperform” rating and set a $35.00 price objective (down from $43.00) on shares of Synchronoss Technologies in a research report on Sunday, April 2nd. ValuEngine cut Synchronoss Technologies from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $15.00 price objective (down from $35.00) on shares of Synchronoss Technologies in a research report on Saturday, April 29th.
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In other news, major shareholder Silver Private Holdings I, Llc acquired 1,357,383 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The stock was bought at an average cost of $15.89 per share, for a total transaction of $21,568,815.87. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert Garcia sold 1,695 shares of the business’s stock in a transaction that occurred on Wednesday, March 22nd. The stock was sold at an average price of $25.66, for a total transaction of $43,493.70. Following the completion of the transaction, the insider now owns 77,312 shares of the company’s stock, valued at $1,983,825.92. The disclosure for this sale can be found here. 11.00% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in SNCR. State of Alaska Department of Revenue raised its position in shares of Synchronoss Technologies by 4.0% in the first quarter. State of Alaska Department of Revenue now owns 4,720 shares of the software maker’s stock worth $115,000 after buying an additional 180 shares during the last quarter. Mckinley Capital Management LLC Delaware bought a new stake in shares of Synchronoss Technologies during the first quarter worth $118,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Synchronoss Technologies by 5.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,965 shares of the software maker’s stock worth $152,000 after buying an additional 197 shares in the last quarter. Acrospire Investment Management LLC raised its stake in shares of Synchronoss Technologies by 55,900.0% in the first quarter. Acrospire Investment Management LLC now owns 7,280 shares of the software maker’s stock worth $178,000 after buying an additional 7,267 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in shares of Synchronoss Technologies during the first quarter worth $212,000. Institutional investors own 93.01% of the company’s stock.
Synchronoss Technologies (SNCR) traded down 5.21% on Tuesday, reaching $10.18. The company had a trading volume of 1,722,046 shares. Synchronoss Technologies has a one year low of $10.11 and a one year high of $49.94. The firm has a market capitalization of $447.75 million, a price-to-earnings ratio of 22.62 and a beta of 1.76. The company’s 50 day moving average is $13.57 and its 200-day moving average is $27.55.
Synchronoss Technologies Company Profile
Synchronoss Technologies, Inc is a global software and services company, which provides technologies and services for the mobile transformation of business. The Company’s portfolio in the Consumer and Enterprise markets contains offerings, such as personal cloud, secure-mobility, identity management and scalable messaging platforms, products and solutions.
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