Synchronoss Technologies, Inc. (SNCR) Receives Hold Rating from Stifel Nicolaus
Stifel Nicolaus reiterated their hold rating on shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) in a research report sent to investors on Wednesday morning. They currently have a $10.00 target price on the software maker’s stock, down from their previous target price of $16.00.
SNCR has been the topic of a number of other reports. ValuEngine cut shares of Synchronoss Technologies from a buy rating to a hold rating in a report on Friday, June 2nd. BidaskClub cut shares of Synchronoss Technologies from a sell rating to a strong sell rating in a report on Wednesday, August 9th. Raymond James Financial, Inc. cut shares of Synchronoss Technologies from an outperform rating to an underperform rating and set a $18.00 price target on the stock. in a report on Tuesday. Zacks Investment Research upgraded shares of Synchronoss Technologies from a strong sell rating to a hold rating in a report on Tuesday, July 25th. Finally, Drexel Hamilton cut shares of Synchronoss Technologies from a buy rating to a hold rating in a report on Wednesday, June 14th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. Synchronoss Technologies presently has a consensus rating of Hold and a consensus price target of $20.13.
Shares of Synchronoss Technologies (NASDAQ:SNCR) traded up 0.53% during midday trading on Wednesday, hitting $9.53. 1,085,267 shares of the stock were exchanged. Synchronoss Technologies has a 12 month low of $9.26 and a 12 month high of $49.94. The firm has a 50 day moving average of $16.42 and a 200-day moving average of $17.82. The stock has a market cap of $419.16 million, a P/E ratio of 21.18 and a beta of 1.69.
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A number of institutional investors have recently modified their holdings of SNCR. Mckinley Capital Management LLC Delaware bought a new position in Synchronoss Technologies during the 1st quarter worth about $118,000. State of Alaska Department of Revenue grew its holdings in Synchronoss Technologies by 80.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 8,511 shares of the software maker’s stock worth $140,000 after acquiring an additional 3,791 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in Synchronoss Technologies by 4.9% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,100 shares of the software maker’s stock worth $166,000 after acquiring an additional 470 shares in the last quarter. Greenwood Capital Associates LLC bought a new position in Synchronoss Technologies during the 2nd quarter worth about $166,000. Finally, First Trust Advisors LP bought a new position in Synchronoss Technologies during the 1st quarter worth about $212,000. Institutional investors own 74.06% of the company’s stock.
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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