Wall Street analysts predict that Synchronoss Technologies, Inc. (NASDAQ:SNCR) will announce sales of $181.08 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Synchronoss Technologies’ earnings. The lowest sales estimate is $169.10 million and the highest is $192.00 million. Synchronoss Technologies reported sales of $157.55 million during the same quarter last year, which would suggest a positive year over year growth rate of 14.9%. The business is expected to announce its next earnings results on Wednesday, August 16th.

On average, analysts expect that Synchronoss Technologies will report full-year sales of $181.08 million for the current fiscal year, with estimates ranging from $684.95 million to $753.57 million. For the next fiscal year, analysts forecast that the company will post sales of $784.67 million per share, with estimates ranging from $743.00 million to $827.66 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Synchronoss Technologies.

SNCR has been the subject of a number of analyst reports. Wells Fargo & Company downgraded shares of Synchronoss Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 27th. J P Morgan Chase & Co downgraded shares of Synchronoss Technologies from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $65.00 to $27.00 in a research report on Thursday, April 27th. Credit Suisse Group downgraded shares of Synchronoss Technologies from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $45.00 to $13.00 in a research report on Thursday, April 27th. UBS AG downgraded shares of Synchronoss Technologies from a “strong-buy” rating to an “outperform” rating in a research report on Thursday, April 27th. Finally, Stifel Nicolaus cut their price objective on shares of Synchronoss Technologies from $32.00 to $10.00 and set a “hold” rating for the company in a research report on Friday, April 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $24.00.

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Shares of Synchronoss Technologies (NASDAQ:SNCR) traded up 0.24% on Friday, hitting $16.65. 363,018 shares of the company traded hands. The stock’s 50-day moving average price is $16.38 and its 200-day moving average price is $21.35. Synchronoss Technologies has a 12 month low of $10.11 and a 12 month high of $49.94. The company has a market capitalization of $732.32 million, a PE ratio of 37.00 and a beta of 1.74.

Large investors have recently modified their holdings of the stock. Municipal Employees Retirement System of Michigan boosted its stake in shares of Synchronoss Technologies by 1.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 9,630 shares of the software maker’s stock worth $235,000 after buying an additional 110 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Synchronoss Technologies by 4.0% in the first quarter. State of Alaska Department of Revenue now owns 4,720 shares of the software maker’s stock worth $115,000 after buying an additional 180 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Synchronoss Technologies by 1.1% in the second quarter. Louisiana State Employees Retirement System now owns 17,600 shares of the software maker’s stock worth $290,000 after buying an additional 200 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Synchronoss Technologies by 0.9% in the second quarter. Arizona State Retirement System now owns 22,522 shares of the software maker’s stock worth $370,000 after buying an additional 200 shares during the last quarter. Finally, Texas Permanent School Fund boosted its stake in shares of Synchronoss Technologies by 0.8% in the first quarter. Texas Permanent School Fund now owns 30,973 shares of the software maker’s stock worth $756,000 after buying an additional 236 shares during the last quarter. 90.44% of the stock is currently owned by hedge funds and other institutional investors.

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.

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