Synchronoss Technologies (NASDAQ:SNCR) Releases Quarterly Earnings Results, Beats Estimates By $0.18 EPS

Synchronoss Technologies (NASDAQ:SNCR) announced its quarterly earnings results on Tuesday. The software maker reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.18, Zacks reports. Synchronoss Technologies had a negative net margin of 12.36% and a negative return on equity of 3.77%. Synchronoss Technologies updated its FY 2025 guidance to EPS.

Synchronoss Technologies Stock Performance

NASDAQ SNCR traded up $0.10 during trading hours on Tuesday, hitting $5.67. The company had a trading volume of 170,455 shares, compared to its average volume of 85,884. The company has a debt-to-equity ratio of 3.67, a quick ratio of 1.72 and a current ratio of 1.72. Synchronoss Technologies has a 1-year low of $4.83 and a 1-year high of $12.85. The company has a market cap of $65.21 million, a PE ratio of -2.71, a price-to-earnings-growth ratio of 2.91 and a beta of 1.53. The business has a 50 day moving average of $5.72 and a 200-day moving average of $6.92.

Analysts Set New Price Targets

SNCR has been the topic of a number of recent analyst reports. Wall Street Zen cut Synchronoss Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. Zacks Research raised Synchronoss Technologies from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Synchronoss Technologies in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.00.

Hedge Funds Weigh In On Synchronoss Technologies

Several large investors have recently bought and sold shares of SNCR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Synchronoss Technologies during the second quarter worth about $40,000. Osaic Holdings Inc. boosted its stake in shares of Synchronoss Technologies by 289.8% during the second quarter. Osaic Holdings Inc. now owns 7,885 shares of the software maker’s stock worth $54,000 after buying an additional 5,862 shares during the period. Headlands Technologies LLC boosted its stake in shares of Synchronoss Technologies by 195.0% during the second quarter. Headlands Technologies LLC now owns 8,638 shares of the software maker’s stock worth $59,000 after buying an additional 5,710 shares during the period. American Century Companies Inc. acquired a new stake in shares of Synchronoss Technologies during the second quarter worth about $88,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Synchronoss Technologies during the second quarter worth about $97,000. Institutional investors and hedge funds own 51.71% of the company’s stock.

Synchronoss Technologies Company Profile

Synchronoss Technologies, Inc provides cloud, messaging, digital, and network management solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Synchronoss Personal Cloud platform that allows customers' subscribers to backup and protect, engage with, and manage their personal content.