Synchronoss Technologies Inc. (SNCR) Reaches New 52-Week High at $43.43
Shares of Synchronoss Technologies Inc. (NASDAQ:SNCR) reached a new 52-week high on Tuesday . The stock traded as high as $43.43 and last traded at $43.20, with a volume of 138,318 shares traded. The stock had previously closed at $43.24.
Several analysts have weighed in on SNCR shares. Zacks Investment Research raised shares of Synchronoss Technologies from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Wednesday, May 11th. Credit Suisse Group AG restated a “buy” rating on shares of Synchronoss Technologies in a research report on Friday, June 10th. Stephens started coverage on shares of Synchronoss Technologies in a research report on Wednesday, August 10th. They issued an “overweight” rating and a $50.00 price objective on the stock. Drexel Hamilton restated a “buy” rating on shares of Synchronoss Technologies in a research report on Friday, June 10th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Synchronoss Technologies in a research report on Friday, June 10th. One analyst has rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $47.44.
The company has a market cap of $1.87 billion and a P/E ratio of 731.19. The stock’s 50-day moving average is $39.22 and its 200 day moving average is $33.95.
Synchronoss Technologies (NASDAQ:SNCR) last posted its earnings results on Wednesday, August 3rd. The company reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.04. The company had revenue of $161.49 million for the quarter, compared to analysts’ expectations of $156.99 million. The business’s revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.56 earnings per share. On average, equities analysts forecast that Synchronoss Technologies Inc. will post $2.51 EPS for the current fiscal year.
In related news, CEO Stephen G. Waldis sold 13,000 shares of the firm’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $40.61, for a total transaction of $527,930.00. Following the completion of the transaction, the chief executive officer now directly owns 476,110 shares of the company’s stock, valued at $19,334,827.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
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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