What is Roth Capital's Estimate for SNCR FY2024 Earnings?

Synchronoss Technologies, Inc. (NASDAQ:SNCR - Free Report) - Equities research analysts at Roth Capital reduced their FY2024 earnings per share (EPS) estimates for shares of Synchronoss Technologies in a research report issued on Monday, November 25th. Roth Capital analyst R. Baldry now forecasts that the software maker will post earnings of $0.10 per share for the year, down from their previous forecast of $0.74. Roth Capital currently has a "Strong-Buy" rating on the stock. The consensus estimate for Synchronoss Technologies' current full-year earnings is $0.74 per share. Roth Capital also issued estimates for Synchronoss Technologies' Q4 2024 earnings at ($0.04) EPS, Q1 2025 earnings at $0.03 EPS, Q2 2025 earnings at $0.04 EPS, Q3 2025 earnings at $0.05 EPS, Q4 2025 earnings at $0.06 EPS and FY2025 earnings at $0.17 EPS.

A number of other equities analysts have also recently weighed in on the company. StockNews.com cut Synchronoss Technologies from a "buy" rating to a "hold" rating in a report on Friday, August 16th. Roth Mkm raised Synchronoss Technologies from a "neutral" rating to a "buy" rating and upped their price target for the stock from $11.00 to $13.00 in a report on Monday.

Synchronoss Technologies Stock Performance

Shares of SNCR stock traded up $0.40 on Thursday, hitting $9.81. The company had a trading volume of 75,058 shares, compared to its average volume of 85,935. The firm has a market cap of $106.33 million, a P/E ratio of -2.53 and a beta of 1.99. The company has a 50-day moving average price of $11.50 and a 200-day moving average price of $10.85. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 5.75. Synchronoss Technologies has a twelve month low of $3.55 and a twelve month high of $15.46.

Insider Buying and Selling

In other news, EVP Patrick Joseph Doran sold 3,250 shares of the company's stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $14.77, for a total value of $48,002.50. Following the completion of the sale, the executive vice president now directly owns 107,483 shares in the company, valued at $1,587,523.91. This represents a 2.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Martin Francis Bernstein sold 6,036 shares of the company's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $14.14, for a total value of $85,349.04. Following the completion of the sale, the director now owns 48,498 shares of the company's stock, valued at $685,761.72. This trade represents a 11.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,165 shares of company stock valued at $513,165. 17.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Synchronoss Technologies

A number of large investors have recently made changes to their positions in SNCR. Dimensional Fund Advisors LP grew its position in Synchronoss Technologies by 40.6% in the second quarter. Dimensional Fund Advisors LP now owns 70,504 shares of the software maker's stock worth $654,000 after acquiring an additional 20,368 shares during the period. XTX Topco Ltd purchased a new position in Synchronoss Technologies in the third quarter worth approximately $237,000. Allspring Global Investments Holdings LLC grew its position in Synchronoss Technologies by 2.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 563,976 shares of the software maker's stock worth $8,395,000 after acquiring an additional 13,984 shares during the period. GSA Capital Partners LLP purchased a new position in Synchronoss Technologies in the third quarter worth approximately $165,000. Finally, Renaissance Technologies LLC grew its position in Synchronoss Technologies by 9.3% in the second quarter. Renaissance Technologies LLC now owns 78,974 shares of the software maker's stock worth $734,000 after acquiring an additional 6,700 shares during the period. 51.71% of the stock is currently owned by hedge funds and other institutional investors.

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.