Synchronoss Technologies (NASDAQ:SNCR) Stock Price Crosses Above Two Hundred Day Moving Average - What's Next?

Synchronoss Technologies, Inc. (NASDAQ:SNCR - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-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

A number of brokerages have issued reports on SNCR. StockNews.com raised Synchronoss Technologies from a "hold" rating to a "buy" rating in a report on Friday, March 14th. Roth Mkm upgraded shares of Synchronoss Technologies from a "neutral" rating to a "buy" rating and boosted their price target for the company from $11.00 to $13.00 in a research report on Monday, November 25th. Finally, Roth Capital raised shares of Synchronoss Technologies from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 25th.

Synchronoss Technologies Stock Up 1.7 %

The firm has a fifty day moving average price of $9.89 and a 200 day moving average price of $10.57. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 5.75. The company has a market cap of $140.53 million, a P/E ratio of -3.15 and a beta of 2.05.

Synchronoss Technologies (NASDAQ:SNCR - Get Free Report) last announced its earnings results on Tuesday, March 11th. The software maker reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.75. The company had revenue of $44.21 million during 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%. Equities research analysts forecast that Synchronoss Technologies, Inc. will post 0.1 earnings per share for the current year.

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Insider Buying and Selling

In other Synchronoss Technologies news, CEO Jeffrey George Miller sold 17,389 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $10.34, for a total value of $179,802.26. Following the completion of the sale, the chief executive officer now owns 336,232 shares of the company's stock, valued at approximately $3,476,638.88. This represents a 4.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 17.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Synchronoss Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC lifted its holdings in Synchronoss Technologies by 603.6% during the third quarter. Barclays PLC now owns 5,734 shares of the software maker's stock worth $85,000 after acquiring an additional 4,919 shares in the last quarter. Occudo Quantitative Strategies LP bought a new position in shares of Synchronoss Technologies during the 4th quarter valued at about $98,000. American Century Companies Inc. acquired a new position in shares of Synchronoss Technologies in the 4th quarter valued at approximately $103,000. Integrated Quantitative Investments LLC bought a new stake in Synchronoss Technologies during the 4th quarter worth approximately $158,000. Finally, Ancora Advisors LLC acquired a new stake in Synchronoss Technologies during the 4th quarter worth approximately $163,000. Institutional investors and hedge funds own 51.71% of the company's stock.

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.