Synchronoss Technologies, Inc. (NASDAQ:SNCR) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Thursday.

A number of other analysts have also issued reports on SNCR. Wells Fargo & Company lowered shares of Synchronoss Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 27th. J P Morgan Chase & Co lowered shares of Synchronoss Technologies from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $65.00 to $27.00 in a research note on Thursday, April 27th. Credit Suisse Group lowered shares of Synchronoss Technologies from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $45.00 to $13.00 in a research note on Thursday, April 27th. UBS AG lowered shares of Synchronoss Technologies from a “strong-buy” rating to an “outperform” rating in a research note on Thursday, April 27th. Finally, Stifel Nicolaus cut their price target on shares of Synchronoss Technologies from $32.00 to $10.00 and set a “hold” rating on the stock in a research note on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $24.00.

Synchronoss Technologies (SNCR) opened at 16.74 on Thursday. The firm’s 50-day moving average is $16.44 and its 200 day moving average is $20.54. Synchronoss Technologies has a one year low of $10.11 and a one year high of $49.94. The company has a market capitalization of $736.28 million, a PE ratio of 37.20 and a beta of 1.74.

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Several hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its stake in Synchronoss Technologies by 4.0% in the first quarter. State of Alaska Department of Revenue now owns 4,720 shares of the software maker’s stock worth $115,000 after buying an additional 180 shares during the last quarter. Mckinley Capital Management LLC Delaware purchased a new stake in Synchronoss Technologies during the first quarter worth $118,000. Municipal Employees Retirement System of Michigan raised its stake in Synchronoss Technologies by 4.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 10,100 shares of the software maker’s stock worth $166,000 after buying an additional 470 shares during the last quarter. Greenwood Capital Associates LLC purchased a new stake in Synchronoss Technologies during the second quarter worth $166,000. Finally, Acrospire Investment Management LLC raised its stake in Synchronoss Technologies by 55,900.0% in the first quarter. Acrospire Investment Management LLC now owns 7,280 shares of the software maker’s stock worth $178,000 after buying an additional 7,267 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Synchronoss Technologies Company Profile

Synchronoss Technologies, Inc is a global software and services company, which provides technologies and services for the mobile transformation of business. The Company’s portfolio in the Consumer and Enterprise markets contains offerings, such as personal cloud, secure-mobility, identity management and scalable messaging platforms, products and solutions.

Analyst Recommendations for Synchronoss Technologies (NASDAQ:SNCR)

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