StockNews.com Upgrades Synchronoss Technologies (NASDAQ:SNCR) to Buy

Synchronoss Technologies (NASDAQ:SNCR) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

Other equities research analysts have also issued reports about the company. Roth Capital raised Synchronoss Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 25th. Roth Mkm upgraded Synchronoss Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $11.00 to $13.00 in a research note on Monday, November 25th.

Synchronoss Technologies Price Performance

Shares of NASDAQ:SNCR opened at $10.89 on Friday. 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 $6.02 and a twelve month high of $15.46. The stock’s 50 day moving average is $9.47 and its 200-day moving average is $10.68. The firm has a market capitalization of $125.14 million, a price-to-earnings ratio of -2.81 and a beta of 2.05.

Synchronoss Technologies (NASDAQ:SNCR) last issued 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 for the quarter, compared to analyst estimates of $43.76 million. Synchronoss Technologies had a negative return on equity of 10.99% and a negative net margin of 20.00%. Sell-side analysts forecast that Synchronoss Technologies will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling at Synchronoss Technologies

In related news, CEO Jeffrey George Miller sold 17,389 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $10.34, for a total transaction of $179,802.26. Following the transaction, the chief executive officer now directly owns 336,232 shares of the company’s stock, valued at approximately $3,476,638.88. This trade represents a 4.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 17.90% of the company’s stock.

Hedge Funds Weigh In On Synchronoss Technologies

A number of large investors have recently modified their holdings of SNCR. Barclays PLC raised its holdings in shares of 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 buying an additional 4,919 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new position in Synchronoss Technologies in the 4th quarter worth approximately $98,000. American Century Companies Inc. purchased a new position in Synchronoss Technologies in the 4th quarter worth approximately $103,000. Integrated Quantitative Investments LLC purchased a new position in Synchronoss Technologies in the 4th quarter worth approximately $158,000. Finally, Ancora Advisors LLC purchased a new position in Synchronoss Technologies in the 4th quarter worth approximately $163,000. 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.