Synchronoss Technologies (NASDAQ:SNCR) Share Price Passes Above 200-Day Moving Average – What’s Next?

Synchronoss Technologies, Inc. (NASDAQ:SNCR)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $10.48 and traded as high as $11.39. Synchronoss Technologies shares last traded at $11.13, with a volume of 84,620 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Synchronoss Technologies from a “hold” rating to a “buy” rating in a report on Friday, March 14th.

Synchronoss Technologies Stock Up 2.2 %

The company has a debt-to-equity ratio of 5.75, a current ratio of 1.88 and a quick ratio of 1.88. The company has a market cap of $127.89 million, a PE ratio of -2.87 and a beta of 2.05. The business’s 50 day moving average is $10.15 and its 200-day moving average is $10.48.

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

Insiders Place Their Bets

In other 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 sale, the chief executive officer now 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Synchronoss Technologies

Several hedge funds have recently added to or reduced their stakes in SNCR. JPMorgan Chase & Co. boosted its holdings 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 valued at $875,000 after buying an additional 58,689 shares in the last quarter. Geode Capital Management LLC boosted its stake in Synchronoss Technologies by 4.1% in the third quarter. Geode Capital Management LLC now owns 104,557 shares of the software maker’s stock valued at $1,557,000 after acquiring an additional 4,159 shares in the last quarter. Barclays PLC grew its holdings 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 purchasing an additional 4,919 shares during the last quarter. State Street Corp increased its position in shares of 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 purchasing an additional 4,000 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings 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 valued at $5,468,000 after purchasing an additional 11,023 shares during the last quarter. 51.71% of the stock is currently 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.