Synchronoss Technologies (NASDAQ:SNCR) Raised to "Buy" at StockNews.com

Synchronoss Technologies (NASDAQ:SNCR - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Friday.

Several other equities research analysts have also issued reports on the stock. Roth Mkm raised shares of Synchronoss Technologies from a "neutral" rating to a "buy" rating and lifted their price target for the company from $11.00 to $13.00 in a report on Monday, November 25th. Roth Capital raised shares of Synchronoss Technologies from a "hold" rating to a "strong-buy" rating in a report on Monday, November 25th.

Synchronoss Technologies Stock Performance

Shares of NASDAQ SNCR traded up $0.08 during mid-day trading on Friday, reaching $12.31. 207,989 shares of the company were exchanged, compared to its average volume of 71,413. Synchronoss Technologies has a twelve month low of $6.02 and a twelve month high of $15.46. 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's 50-day simple moving average is $9.54 and its 200-day simple moving average is $10.65. The stock has a market capitalization of $141.45 million, a P/E ratio of -3.17 and a beta of 2.05.

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Synchronoss Technologies (NASDAQ:SNCR - Get Free Report) last released its earnings results on Tuesday, March 11th. The software maker reported $0.85 EPS for the quarter, beating the consensus estimate of $0.10 by $0.75. Synchronoss Technologies had a negative net margin of 20.00% and a negative return on equity of 10.99%. The firm had revenue of $44.21 million for the quarter, compared to analyst estimates of $43.76 million. As a group, research analysts predict that Synchronoss Technologies will post 0.1 earnings per share for the current year.

Insider Activity 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 shares were sold at an average price of $10.34, for a total transaction of $179,802.26. Following the sale, the chief executive officer now directly owns 336,232 shares of the company's stock, valued at $3,476,638.88. The trade was a 4.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 17.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Synchronoss Technologies

A number of institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in shares of Synchronoss Technologies by 54,341.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 58,797 shares of the software maker's stock worth $875,000 after purchasing an additional 58,689 shares during the period. Geode Capital Management LLC lifted its position in shares of Synchronoss Technologies by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 104,557 shares of the software maker's stock worth $1,557,000 after purchasing an additional 4,159 shares during the period. Barclays PLC lifted its position in shares of Synchronoss Technologies by 603.6% in 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 period. State Street Corp lifted its position in shares of Synchronoss Technologies by 12.9% in the 3rd quarter. State Street Corp now owns 35,075 shares of the software maker's stock worth $522,000 after purchasing an additional 4,000 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Synchronoss Technologies by 2.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 574,999 shares of the software maker's stock worth $5,468,000 after purchasing an additional 11,023 shares during the period. 51.71% of the stock is owned by institutional investors.

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.