Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) have received a consensus rating of “Hold” from the eleven research firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $17.75.

A number of research firms have weighed in on SNCR. Credit Suisse Group downgraded shares of Synchronoss Technologies from a “neutral” rating to an “underperform” rating and set a $13.00 price target on the stock. in a research note on Monday, May 22nd. ValuEngine downgraded shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Drexel Hamilton downgraded shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Stifel Nicolaus reaffirmed a “hold” rating and set a $16.00 price target on shares of Synchronoss Technologies in a research note on Friday, June 23rd. Finally, Zacks Investment Research raised shares of Synchronoss Technologies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 25th.

Shares of Synchronoss Technologies (NASDAQ SNCR) opened at 16.67 on Tuesday. The stock has a market cap of $733.20 million, a price-to-earnings ratio of 37.04 and a beta of 1.74. Synchronoss Technologies has a 12 month low of $10.11 and a 12 month high of $49.94. The firm has a 50-day moving average price of $16.54 and a 200-day moving average price of $19.26.

Several institutional investors have recently modified their holdings of SNCR. State of Alaska Department of Revenue increased its position in shares of 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 in the last quarter. Mckinley Capital Management LLC Delaware acquired a new position in shares of Synchronoss Technologies during the first quarter worth approximately $118,000. Municipal Employees Retirement System of Michigan increased its position in shares of 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 in the last quarter. Greenwood Capital Associates LLC acquired a new position in shares of Synchronoss Technologies during the second quarter worth approximately $166,000. Finally, Acrospire Investment Management LLC increased its position in shares of 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 in the last quarter. 74.25% of the stock is currently owned by institutional investors and hedge funds.

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About Synchronoss Technologies

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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