Shares of Synchronoss Technologies Inc. (NASDAQ:SNCR) have earned a consensus rating of “Buy” from the nine brokerages that are covering the firm. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $49.83.

Several equities research analysts recently commented on SNCR shares. Zacks Investment Research upgraded shares of Synchronoss Technologies from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research note on Friday, November 11th. Credit Suisse Group AG restated a “buy” rating and issued a $55.00 price objective on shares of Synchronoss Technologies in a research note on Tuesday, November 8th. Wells Fargo & Co. restated an “outperform” rating and issued a $49.00 price objective (up from $44.50) on shares of Synchronoss Technologies in a research note on Thursday, November 10th. Finally, Stephens assumed coverage on shares of Synchronoss Technologies in a research note on Wednesday, August 10th. They issued an “overweight” rating and a $50.00 price objective on the stock.

Synchronoss Technologies (NASDAQ:SNCR) opened at 49.52 on Tuesday. Synchronoss Technologies has a 52-week low of $20.33 and a 52-week high of $49.54. The company’s 50 day moving average is $41.29 and its 200 day moving average is $38.57. The firm has a market cap of $2.16 billion, a P/E ratio of 3809.23 and a beta of 2.21.

Synchronoss Technologies (NASDAQ:SNCR) last announced its quarterly earnings results on Monday, November 7th. The company reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01. Synchronoss Technologies had a net margin of 0.19% and a return on equity of 13.97%. The firm had revenue of $180.98 million for the quarter, compared to analyst estimates of $177.83 million. During the same period last year, the business earned $0.58 EPS. Synchronoss Technologies’s revenue for the quarter was up 19.6% compared to the same quarter last year. Equities research analysts forecast that Synchronoss Technologies will post $2.57 EPS for the current fiscal year.

In related news, Director Donnie Moore sold 5,500 shares of the business’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $40.63, for a total transaction of $223,465.00. Following the sale, the director now owns 29,092 shares of the company’s stock, valued at $1,182,007.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Karen Rosenberger sold 755 shares of the business’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $40.86, for a total transaction of $30,849.30. Following the sale, the chief financial officer now directly owns 44,219 shares in the company, valued at approximately $1,806,788.34. The disclosure for this sale can be found here. 11.00% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in SNCR. Oak Ridge Investments LLC increased its stake in Synchronoss Technologies by 0.9% in the second quarter. Oak Ridge Investments LLC now owns 2,718,112 shares of the company’s stock worth $86,599,000 after buying an additional 23,657 shares in the last quarter. Nuveen Asset Management LLC increased its stake in Synchronoss Technologies by 6.2% in the first quarter. Nuveen Asset Management LLC now owns 85,225 shares of the company’s stock worth $2,757,000 after buying an additional 4,946 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Synchronoss Technologies by 22.7% in the second quarter. Teacher Retirement System of Texas now owns 5,653 shares of the company’s stock worth $180,000 after buying an additional 1,047 shares in the last quarter. BlackRock Inc. increased its stake in Synchronoss Technologies by 19.0% in the first quarter. BlackRock Inc. now owns 3,095 shares of the company’s stock worth $100,000 after buying an additional 494 shares in the last quarter. Finally, Quantbot Technologies LP increased its stake in Synchronoss Technologies by 160.5% in the second quarter. Quantbot Technologies LP now owns 13,323 shares of the company’s stock worth $424,000 after buying an additional 8,209 shares in the last quarter. 81.62% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: This piece of content was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece of content on another website, it was stolen and reposted in violation of US & international copyright law. The original version of this piece of content can be viewed at https://www.thecerbatgem.com/2016/11/25/analysts-set-synchronoss-technologies-inc-sncr-pt-at-49-83.html.

About Synchronoss Technologies

Synchronoss Technologies, Inc (Synchronoss) offers cloud solutions and software-based activation for mobile carriers, enterprises, retailers and original equipment manufacturers (OEMs). The Company operates in providing cloud solutions and software-based activation for connected devices segment. Its software provides consumer and enterprise solutions for transactions on a range of connected devices across the world’s networks.

5 Day Chart for NASDAQ:SNCR

Receive News & Stock Ratings for Synchronoss Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchronoss Technologies Inc. and related stocks with our FREE daily email newsletter.