StockNews.com Upgrades Synchronoss Technologies (NASDAQ:SNCR) to Buy – MarketBeat
Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools:
Synchronoss Technologies (NASDAQ:SNCR – Get Rating) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.
Synchronoss Technologies Stock Up 1.2 %
Synchronoss Technologies stock traded up $0.02 during trading hours on Friday, hitting $1.72. The company had a trading volume of 143,128 shares, compared to its average volume of 365,715. Synchronoss Technologies has a fifty-two week low of $1.06 and a fifty-two week high of $3.09. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.41 and a quick ratio of 1.27. The firm has a market capitalization of $151.88 million, a P/E ratio of -12.28 and a beta of 1.28. The firm’s fifty day moving average is $1.33 and its 200-day moving average is $1.52.
Synchronoss Technologies (NASDAQ:SNCR – Get Rating) last posted its quarterly earnings results on Tuesday, May 10th. The software maker reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.02. Synchronoss Technologies had a negative net margin of 1.32% and a positive return on equity of 29.02%. The business had revenue of $65.87 million for the quarter, compared to analysts’ expectations of $65.44 million. On average, research analysts forecast that Synchronoss Technologies will post -0.04 earnings per share for the current year.
Insider Transactions at Synchronoss Technologies
In other news, Director Martin Francis Bernstein purchased 47,900 shares of the stock in a transaction that occurred on Monday, May 16th. The stock was acquired at an average price of $1.52 per share, with a total value of $72,808.00. Following the purchase, the director now owns 155,502 shares in the company, valued at approximately $236,363.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder B. Riley Financial, Inc. bought 69,183 shares of the business’s stock in a transaction on Monday, May 23rd. The shares were bought at an average cost of $1.50 per share, for a total transaction of $103,774.50. Following the completion of the acquisition, the insider now directly owns 11,878,289 shares in the company, valued at $17,817,433.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Martin Francis Bernstein purchased 47,900 shares of Synchronoss Technologies stock in a transaction on Monday, May 16th. The stock was bought at an average cost of $1.52 per share, with a total value of $72,808.00. Following the transaction, the director now directly owns 155,502 shares of the company’s stock, valued at $236,363.04. The disclosure for this purchase can be found here. Insiders bought 132,802 shares of company stock valued at $200,061 in the last three months. Corporate insiders own 3.30% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. Qube Research & Technologies Ltd bought a new position in shares of Synchronoss Technologies in the fourth quarter valued at approximately $37,000. Wedbush Securities Inc. bought a new position in Synchronoss Technologies in the 1st quarter worth $48,000. Mirabella Financial Services LLP acquired a new position in Synchronoss Technologies during the 4th quarter worth $73,000. State Street Corp boosted its holdings in Synchronoss Technologies by 65.6% during the first quarter. State Street Corp now owns 266,858 shares of the software maker’s stock valued at $462,000 after acquiring an additional 105,669 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Synchronoss Technologies by 11.6% in the first quarter. Renaissance Technologies LLC now owns 376,829 shares of the software maker’s stock valued at $652,000 after purchasing an additional 39,302 shares during the last quarter. 51.06% of the stock is owned by institutional investors.
Synchronoss Technologies Company Profile
(Get Rating)
Synchronoss Technologies, Inc provides cloud, messaging, digital, and network management platforms, products, and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company's platforms, products, and solutions include content backup, view, manage, engage, transfer, and restore solutions in operating systems and devices; multi-channel messaging, peer-to-peer communications, and application-to-person commerce solutions; email solutions; customer journey and workflow design, development, orchestration, and experience management solutions; and telecom network infrastructure designing, procuring, managing, and optimizing solutions.
Recommended Stories
- Get a free copy of the StockNews.com research report on Synchronoss Technologies (SNCR)
- What Is WallStreetBets and What Stocks Are They Targeting?
- Institutions And Analysts Propel Jack In The Box Higher
- Can You Guess Which EV Stock Is Beating Tesla ?
- Look at Honeywell for a Steady and Diversified Stock
- Why Invest in High-Yield Dividend Stocks?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Synchronoss Technologies, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Synchronoss Technologies wasn’t on the list.
While Synchronoss Technologies currently has a “N/A” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Complete the form below to receive the latest headlines and analysts’ recommendations for your stocks with our free daily email newsletter:
What investors can learn from studying the past, as well as offering some ideas about asset classes with future potential.
Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools:
View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.
Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat’s trending stocks report.
Identify stocks that meet your criteria using seven unique stock screeners. See what’s happening in the market right now with MarketBeat’s real-time news feed. Export data to Excel for your own analysis.
MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.
Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.
Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.
As Featured By:
MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.
Twitter Facebook StockTwits Financial Juice YouTube
© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | contact@marketbeat.com | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.
Our Accessibility Statement | Terms of Service | Privacy Policy | Do Not Sell My Information | RSS Feeds
© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer.