Synchronoss Technologies (NASDAQ:SNCR) Raised to Buy at Roth Mkm

Synchronoss Technologies (NASDAQ:SNCR - Get Free Report) was upgraded by research analysts at Roth Mkm from a "neutral" rating to a "buy" rating in a research report issued on Monday, Marketbeat Ratings reports. The brokerage currently has a $13.00 price objective on the software maker's stock, up from their prior price objective of $11.00. Roth Mkm's target price suggests a potential upside of 35.14% from the stock's current price.

Separately, StockNews.com lowered shares of Synchronoss Technologies from a "buy" rating to a "hold" rating in a research report on Friday, August 16th.

Synchronoss Technologies Stock Performance

Shares of NASDAQ:SNCR traded up $0.10 on Monday, reaching $9.62. 48,960 shares of the company's stock were exchanged, compared to its average volume of 85,960. The company has a fifty day moving average of $11.66 and a 200-day moving average of $10.85. Synchronoss Technologies has a twelve month low of $3.55 and a twelve month high of $15.46. 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 company has a market capitalization of $104.28 million, a price-to-earnings ratio of -2.69 and a beta of 1.99.

Insider Activity at Synchronoss Technologies

In other news, CFO Lou Ferraro sold 5,768 shares of the firm's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $13.60, for a total transaction of $78,444.80. Following the completion of the transaction, the chief financial officer now owns 83,556 shares of the company's stock, valued at approximately $1,136,361.60. This trade represents a 6.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey George Miller sold 12,000 shares of the business's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $13.50, for a total transaction of $162,000.00. Following the completion of the sale, the chief executive officer now directly owns 284,462 shares in the company, valued at approximately $3,840,237. This represents a 4.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,165 shares of company stock valued at $513,165 in the last quarter. Insiders own 17.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC raised its position in shares of 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 during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Synchronoss Technologies during the third quarter worth $165,000. XTX Topco Ltd bought a new position in Synchronoss Technologies during the third quarter worth $237,000. State Street Corp raised its stake in 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 buying an additional 4,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Synchronoss Technologies by 40.6% during the 2nd 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. 51.71% of the stock is 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.