Synacor, Inc. (NASDAQ:SYNC) had its price objective dropped by equities research analysts at Canaccord Genuity from $6.00 to $5.00 in a research report issued on Wednesday. The firm presently has a “buy” rating on the information services provider’s stock. Canaccord Genuity’s price target points to a potential upside of 100.00% from the company’s current price.

SYNC has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Synacor from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Craig Hallum downgraded shares of Synacor from a “buy” rating to a “hold” rating and boosted their price objective for the company from $3.55 to $4.00 in a research report on Thursday, August 10th. Finally, ValuEngine downgraded shares of Synacor from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $5.00.

Shares of Synacor (SYNC) remained flat at $$2.50 during midday trading on Wednesday. The company’s stock had a trading volume of 135,900 shares, compared to its average volume of 177,693. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 0.07. Synacor has a 12-month low of $1.96 and a 12-month high of $4.25.

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Institutional investors and hedge funds have recently made changes to their positions in the business. Northpointe Capital LLC lifted its position in Synacor by 558.3% in the third quarter. Northpointe Capital LLC now owns 1,649,151 shares of the information services provider’s stock worth $4,453,000 after buying an additional 1,398,638 shares during the last quarter. Alyeska Investment Group L.P. lifted its holdings in shares of Synacor by 1.8% during the third quarter. Alyeska Investment Group L.P. now owns 1,307,784 shares of the information services provider’s stock worth $3,531,000 after purchasing an additional 23,353 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Synacor by 1.4% during the first quarter. Renaissance Technologies LLC now owns 1,160,600 shares of the information services provider’s stock worth $4,816,000 after purchasing an additional 16,400 shares during the period. Vanguard Group Inc. lifted its holdings 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 worth $2,580,000 after purchasing an additional 27,763 shares during the period. Finally, S Squared Technology LLC acquired a new stake in shares of Synacor during the second quarter worth about $1,168,000. 30.62% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Synacor (NASDAQ:SYNC)

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