Synchronoss Technologies, Inc. (NASDAQ:SNCR) CMO Mary P. Clark sold 2,683 shares of the business’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $7.20, for a total transaction of $19,317.60. The transaction was disclosed in a filing with the SEC, which is available through this link.
NASDAQ:SNCR opened at $7.38 on Wednesday. Synchronoss Technologies, Inc. has a one year low of $3.90 and a one year high of $12.12. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.99 and a current ratio of 0.99.
Synchronoss Technologies (NASDAQ:SNCR) last posted its quarterly earnings data on Wednesday, November 7th. The software maker reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.47). Synchronoss Technologies had a negative return on equity of 48.08% and a negative net margin of 36.27%. The business had revenue of $83.30 million for the quarter, compared to the consensus estimate of $83.00 million. Synchronoss Technologies’s quarterly revenue was down 8.5% compared to the same quarter last year. On average, sell-side analysts forecast that Synchronoss Technologies, Inc. will post -2.73 earnings per share for the current fiscal year.
SNCR has been the topic of several research reports. Zacks Investment Research raised shares of Synchronoss Technologies from a “hold” rating to a “buy” rating and set a $6.50 price objective on the stock in a research note on Friday, November 16th. Stifel Nicolaus raised shares of Synchronoss Technologies from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $3.00 to $7.00 in a research note on Monday, December 10th. Finally, ValuEngine raised shares of Synchronoss Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $6.75.
A number of large investors have recently bought and sold shares of SNCR. Investors Research Corp bought a new stake in Synchronoss Technologies during the fourth quarter worth about $74,000. Dorsey & Whitney Trust CO LLC bought a new stake in Synchronoss Technologies during the fourth quarter worth about $126,000. New Jersey Better Educational Savings Trust bought a new stake in Synchronoss Technologies during the fourth quarter worth about $160,000. FNY Investment Advisers LLC bought a new stake in Synchronoss Technologies during the third quarter worth about $171,000. Finally, Supplemental Annuity Collective Trust of NJ bought a new position in shares of Synchronoss Technologies in the fourth quarter worth approximately $196,000. 3.67% of the stock is currently owned by institutional investors and hedge funds.
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About Synchronoss Technologies
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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