Shares of Synchronoss Technologies Inc. (NASDAQ:SNCR) rose 2.9% on Friday . The stock traded as high as $37.00 and last traded at $36.93, with a volume of 191,363 shares traded. The stock had previously closed at $35.90.

SNCR has been the topic of several recent research reports. Credit Suisse Group AG restated a “buy” rating on shares of Synchronoss Technologies in a research note on Friday, June 10th. Zacks Investment Research upgraded Synchronoss Technologies from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Wednesday, May 11th. JPMorgan Chase & Co. restated a “buy” rating on shares of Synchronoss Technologies in a research note on Friday, June 10th. Finally, Drexel Hamilton restated a “buy” rating on shares of Synchronoss Technologies in a research note on Friday, June 10th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $47.89.

The stock’s 50-day moving average is $34.29 and its 200-day moving average is $31.66. The firm has a market cap of $1.61 billion and a price-to-earnings ratio of 71.12.

Synchronoss Technologies (NASDAQ:SNCR) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.03. The company had revenue of $145.57 million for the quarter, compared to the consensus estimate of $144.29 million. The business’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 EPS. Equities analysts anticipate that Synchronoss Technologies Inc. will post $2.45 earnings per share for the current fiscal year.

In other news, CEO Stephen G. Waldis sold 13,000 shares of Synchronoss Technologies stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $34.83, for a total transaction of $452,790.00. Following the completion of the sale, the chief executive officer now owns 515,110 shares of the company’s stock, valued at $17,941,281.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles E. Hoffman sold 55,000 shares of Synchronoss Technologies stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $35.08, for a total transaction of $1,929,400.00. Following the sale, the director now directly owns 34,640 shares of the company’s stock, valued at approximately $1,215,171.20. The disclosure for this sale can be found here.

Other hedge funds recently bought and sold shares of the company. Nationwide Fund Advisors increased its stake in Synchronoss Technologies by 0.3% in the fourth quarter. Nationwide Fund Advisors now owns 105,416 shares of the company’s stock valued at $3,714,000 after buying an additional 316 shares in the last quarter. California State Teachers Retirement System increased its stake in Synchronoss Technologies by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 71,852 shares of the company’s stock valued at $2,531,000 after buying an additional 1,155 shares in the last quarter. New York State Common Retirement Fund increased its stake in Synchronoss Technologies by 4.2% in the fourth quarter. New York State Common Retirement Fund now owns 59,853 shares of the company’s stock valued at $2,109,000 after buying an additional 2,435 shares in the last quarter. GAM Holding AG bought a new stake in Synchronoss Technologies during the fourth quarter valued at $1,205,000. Finally, Mutual of America Capital Management LLC increased its stake in Synchronoss Technologies by 0.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 52,809 shares of the company’s stock valued at $1,860,000 after buying an additional 315 shares in the last quarter.

Synchronoss Technologies, Inc (Synchronoss) is a mobile innovation company that provides software-based cloud and activation solutions for connected devices to enterprise customers. The Company’s solutions include intelligent connectivity management and content synchronization, backup and sharing service procurement, provisioning, activation, and support that enable communications service providers (CSPs), cable operators/multi-services operators (MSOs), original equipment manufacturers (OEMs) with embedded connectivity, multi-channel retailers and other customers.

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