Synchronoss Technologies (NASDAQ:SNCR)‘s stock had its “hold” rating reiterated by analysts at Deutsche Bank in a research note issued to investors on Thursday. They currently have a $8.00 price target on the software maker’s stock, down from their previous price target of $18.00. Deutsche Bank’s price objective would suggest a potential downside of 13.61% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Synchronoss Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Raymond James Financial lowered shares of Synchronoss Technologies from an “outperform” rating to an “underperform” rating and set a $18.00 price objective for the company. in a report on Tuesday, September 19th. Stifel Nicolaus reissued a “hold” rating and set a $10.00 price objective (down from $16.00) on shares of Synchronoss Technologies in a report on Wednesday, September 20th. Citigroup raised their price objective on shares of Synchronoss Technologies to $10.00 and gave the stock a “hold” rating in a report on Wednesday, September 20th. Finally, Credit Suisse Group reissued an “underperform” rating and set a $8.00 price objective (down from $13.00) on shares of Synchronoss Technologies in a report on Thursday. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $16.57.

Shares of Synchronoss Technologies (NASDAQ SNCR) opened at $9.26 on Thursday. The firm has a market cap of $444.26, a price-to-earnings ratio of 6.45 and a beta of 1.55. Synchronoss Technologies has a fifty-two week low of $8.48 and a fifty-two week high of $42.70.

Several hedge funds and other institutional investors have recently bought and sold shares of SNCR. Elk Creek Partners LLC lifted its position in Synchronoss Technologies by 3.5% in the 3rd quarter. Elk Creek Partners LLC now owns 2,420,323 shares of the software maker’s stock valued at $22,582,000 after purchasing an additional 81,228 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Synchronoss Technologies by 29.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,357,569 shares of the software maker’s stock valued at $38,782,000 after purchasing an additional 540,181 shares during the last quarter. State Street Corp lifted its position in Synchronoss Technologies by 8.1% in the 2nd quarter. State Street Corp now owns 1,054,586 shares of the software maker’s stock valued at $17,346,000 after purchasing an additional 78,729 shares during the last quarter. Smith Graham & Co. Investment Advisors LP lifted its position in Synchronoss Technologies by 11.6% in the 3rd quarter. Smith Graham & Co. Investment Advisors LP now owns 763,638 shares of the software maker’s stock valued at $7,125,000 after purchasing an additional 79,300 shares during the last quarter. Finally, Kennedy Capital Management Inc. lifted its position in Synchronoss Technologies by 32.4% in the 2nd quarter. Kennedy Capital Management Inc. now owns 688,652 shares of the software maker’s stock valued at $11,328,000 after purchasing an additional 168,493 shares during the last quarter. 68.35% of the stock is owned by institutional investors and hedge funds.

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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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