Synchronoss Technologies (NASDAQ:SNCR) Stock Crosses Above 200-Day Moving Average – What’s Next?

Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $10.57 and traded as high as $12.85. Synchronoss Technologies shares last traded at $12.02, with a volume of 196,354 shares trading hands.

Analyst Upgrades and Downgrades

SNCR has been the subject of a number of recent research reports. Roth Capital raised shares of 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 lifted their price target for the stock from $11.00 to $13.00 in a research report on Monday, November 25th. Finally, StockNews.com raised Synchronoss Technologies from a “hold” rating to a “buy” rating in a research note on Friday, March 14th.

Synchronoss Technologies Stock Down 4.0 %

The company has a debt-to-equity ratio of 5.75, a quick ratio of 1.88 and a current ratio of 1.88. The company has a fifty day moving average of $9.89 and a two-hundred day moving average of $10.57. The company has a market cap of $138.12 million, a PE ratio of -3.10 and a beta of 2.05.

Synchronoss Technologies (NASDAQ:SNCR) last announced its earnings results on Tuesday, March 11th. The software maker reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.75. The business had revenue of $44.21 million for the quarter, compared to the consensus estimate of $43.76 million. Synchronoss Technologies had a negative net margin of 20.00% and a negative return on equity of 10.99%. As a group, analysts anticipate that Synchronoss Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jeffrey George Miller sold 17,389 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $3,476,638.88. The trade was a 4.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 17.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SNCR. Geode Capital Management LLC boosted its position 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 valued at $1,022,000 after buying an additional 1,851 shares during the period. State Street Corp increased its position in shares of Synchronoss Technologies by 12.9% during the third quarter. State Street Corp now owns 35,075 shares of the software maker’s stock worth $522,000 after acquiring an additional 4,000 shares during the period. Barclays PLC boosted its holdings in shares of Synchronoss Technologies by 603.6% in the third quarter. Barclays PLC now owns 5,734 shares of the software maker’s stock valued at $85,000 after purchasing an additional 4,919 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Synchronoss Technologies by 9.8% in the fourth 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 in the last quarter. Finally, Occudo Quantitative Strategies LP bought a new position in Synchronoss Technologies in the fourth quarter worth approximately $98,000. Hedge funds and other institutional investors own 51.71% of the company’s stock.

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.