ValuEngine Downgrades Synacor, Inc. (SYNC) to Sell
ValuEngine downgraded shares of Synacor, Inc. (NASDAQ:SYNC) from a hold rating to a sell rating in a research report report published on Monday morning.
Several other research firms have also recently weighed in on SYNC. Canaccord Genuity lowered their price target on shares of Synacor from $8.00 to $6.00 and set a buy rating on the stock in a report on Thursday, August 10th. Craig Hallum cut shares of Synacor from a buy rating to a hold rating and raised their target price for the stock from $3.55 to $4.00 in a report on Thursday, August 10th. Finally, Rosenblatt Securities reaffirmed a buy rating and set a $5.50 target price on shares of Synacor in a report on Monday, June 12th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $5.25.
Synacor (NASDAQ SYNC) traded up 1.82% during trading on Monday, reaching $2.80. The company’s stock had a trading volume of 40,354 shares. The company’s 50 day moving average price is $2.59 and its 200 day moving average price is $3.32. The company’s market cap is $108.27 million. Synacor has a 52 week low of $2.30 and a 52 week high of $4.25.
Synacor (NASDAQ:SYNC) last issued its earnings results on Wednesday, August 9th. The information services provider reported ($0.09) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.02. The company had revenue of $31.22 million for the quarter, compared to analysts’ expectations of $29.43 million. Synacor had a negative net margin of 13.14% and a negative return on equity of 39.21%. The firm’s revenue was up 2.4% on a year-over-year basis. On average, equities analysts anticipate that Synacor will post ($0.32) earnings per share for the current fiscal year.
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A number of institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC boosted its position in Synacor by 1.4% in the first quarter. Renaissance Technologies LLC now owns 1,160,600 shares of the information services provider’s stock valued at $4,816,000 after buying an additional 16,400 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Synacor by 43.5% during the first quarter. Wellington Management Group LLP now owns 1,073,900 shares of the information services provider’s stock valued at $4,457,000 after acquiring an additional 325,700 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Synacor by 4.1% during the second quarter. Vanguard Group Inc. now owns 706,887 shares of the information services provider’s stock valued at $2,580,000 after acquiring an additional 27,763 shares during the last quarter. S Squared Technology LLC bought a new position in shares of Synacor during the second quarter valued at $1,168,000. Finally, Boston Partners bought a new position in shares of Synacor during the second quarter valued at $1,122,000. Hedge funds and other institutional investors own 28.08% of the company’s stock.
Synacor Company Profile
Synacor, Inc is a technology development, multiplatform services and revenue partner for video, Internet and communications providers, device manufacturers and enterprises. The Company enables its customers to provide their consumers engaging, multiscreen experiences with products that require scale, actionable data and implementation.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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