Synchronoss Technologies (NASDAQ:SNCR) Stock Rating Upgraded by StockNews.com

Synchronoss Technologies (NASDAQ:SNCR) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

SNCR has been the subject of a number of other research reports. Roth Mkm raised Synchronoss Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock 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 report on Monday, November 25th.

Synchronoss Technologies Trading Up 6.5 %

Synchronoss Technologies stock opened at $10.89 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 5.75. The business’s fifty day simple moving average is $9.47 and its two-hundred day simple moving average is $10.68. Synchronoss Technologies has a 12 month low of $6.02 and a 12 month high of $15.46. The company has a market capitalization of $125.14 million, a price-to-earnings ratio of -2.81 and a beta of 2.05.

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 return on equity of 10.99% and a negative net margin of 20.00%. The company had revenue of $44.21 million during the quarter, compared to analysts’ expectations of $43.76 million. As a group, equities analysts predict that Synchronoss Technologies will post 0.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Synchronoss Technologies

In other Synchronoss Technologies news, CEO Jeffrey George Miller sold 17,389 shares of the business’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 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. The trade was a 4.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 17.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC boosted its holdings in shares of Synchronoss Technologies by 603.6% during the 3rd quarter. Barclays PLC now owns 5,734 shares of the software maker’s stock worth $85,000 after purchasing an additional 4,919 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new position in Synchronoss Technologies during the fourth quarter worth $98,000. American Century Companies Inc. acquired a new position in Synchronoss Technologies during the fourth quarter worth $103,000. GSA Capital Partners LLP acquired a new stake in shares of Synchronoss Technologies in the third quarter valued at $165,000. Finally, XTX Topco Ltd acquired a new stake in shares of Synchronoss Technologies in the third quarter valued at $237,000. 51.71% of the stock is currently owned by institutional investors and hedge funds.

About Synchronoss Technologies

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.