Synchronoss Technologies (SNCR) Raised to “Strong-Buy” at ValuEngine

ValuEngine upgraded shares of Synchronoss Technologies (NASDAQ:SNCR) from a buy rating to a strong-buy rating in a research report released on Monday morning, ValuEngine reports.

Separately, Zacks Investment Research lowered Synchronoss Technologies from a buy rating to a hold rating in a research report on Saturday, February 9th.

Shares of SNCR stock traded down $0.12 during mid-day trading on Monday, hitting $6.46. The company’s stock had a trading volume of 13,197 shares, compared to its average volume of 310,808. Synchronoss Technologies has a 52 week low of $3.90 and a 52 week high of $8.49. The company has a current ratio of 1.16, a quick ratio of 1.21 and a debt-to-equity ratio of 0.39. The firm has a market cap of $280.01 million, a PE ratio of -1.32 and a beta of 0.60.

Synchronoss Technologies (NASDAQ:SNCR) last posted its quarterly earnings data on Thursday, May 9th. The software maker reported ($0.50) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by ($0.01). Synchronoss Technologies had a negative return on equity of 76.17% and a negative net margin of 67.57%. The business had revenue of $88.11 million during the quarter, compared to the consensus estimate of $83.37 million. On average, analysts forecast that Synchronoss Technologies will post -1.68 earnings per share for the current year.

In other news, Chairman Stephen G. Waldis sold 8,880 shares of Synchronoss Technologies stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $8.13, for a total value of $72,194.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Stephen G. Waldis sold 6,539 shares of Synchronoss Technologies stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $7.79, for a total value of $50,938.81. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,813 shares of company stock valued at $284,178. Corporate insiders own 34.90% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Supplemental Annuity Collective Trust of NJ grew its stake in shares of Synchronoss Technologies by 12.5% in the 1st quarter. Supplemental Annuity Collective Trust of NJ now owns 36,000 shares of the software maker’s stock valued at $219,000 after buying an additional 4,000 shares during the period. Optimum Investment Advisors acquired a new stake in shares of Synchronoss Technologies in the 1st quarter valued at about $30,000. United Services Automobile Association acquired a new stake in shares of Synchronoss Technologies in the 4th quarter valued at about $72,000. Jane Street Group LLC acquired a new stake in shares of Synchronoss Technologies in the 4th quarter valued at about $73,000. Finally, Investors Research Corp acquired a new stake in shares of Synchronoss Technologies in the 4th quarter valued at about $74,000. Institutional investors own 38.52% of the company’s stock.

Synchronoss Technologies Company Profile

Synchronoss Technologies, Inc provides cloud, digital, messaging, and Internet of things platforms, products, and solutions worldwide. Its products and services include cloud-based sync, backup, storage and content engagement capabilities, broadband connectivity solutions, analytics, white label messaging, and identity/access management that enable communications service providers, cable operators/multi-services operators, original equipment manufacturers with embedded connectivity, and multi-channel retailers, as well as other customers to accelerate and monetize value-add services for secure and broadband networks and connected devices.

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