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

Synchronoss Technologies, Inc. (NASDAQ:SNCR) – Equities researchers at Roth Capital decreased their FY2024 EPS estimates for shares of Synchronoss Technologies in a research report issued to clients and investors on Monday, November 25th. Roth Capital analyst R. Baldry now anticipates that the software maker will post earnings of $0.10 per share for the year, down from their previous estimate 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.

Other analysts have also recently issued research reports about the company. Roth Mkm raised Synchronoss Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $11.00 to $13.00 in a research report on Monday. StockNews.com cut Synchronoss Technologies from a “buy” rating to a “hold” rating in a research note on Friday, August 16th.

Synchronoss Technologies Stock Performance

Shares of SNCR stock opened at $9.81 on Thursday. The firm has a market cap of $106.33 million, a price-to-earnings ratio of -2.53 and a beta of 1.99. Synchronoss Technologies has a 52-week low of $3.55 and a 52-week 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 moving average is $11.50 and its 200 day moving average is $10.85.

Insider Transactions at Synchronoss Technologies

In other news, CEO Jeffrey George Miller sold 12,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $13.50, for a total value of $162,000.00. Following the completion of the sale, the chief executive officer now owns 284,462 shares of the company’s stock, valued at $3,840,237. This trade represents a 4.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Patrick Joseph Doran sold 3,250 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $14.77, for a total value of $48,002.50. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 37,165 shares of company stock valued at $513,165 in the last 90 days. Insiders own 17.90% of the company’s stock.

Hedge Funds Weigh In On Synchronoss Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC increased its stake in Synchronoss Technologies by 603.6% during the 3rd 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 in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Synchronoss Technologies during the third quarter valued at $165,000. XTX Topco Ltd purchased a new stake in shares of Synchronoss Technologies during the third quarter valued at $237,000. State Street Corp increased 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 valued at $522,000 after acquiring an additional 4,000 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Synchronoss Technologies by 40.6% in 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 last quarter. 51.71% of the stock is owned by hedge funds and other 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.