FNY Investment Advisers LLC Purchases Shares of 25,975 Synchronoss Technologies, Inc. (SNCR)
FNY Investment Advisers LLC purchased a new position in Synchronoss Technologies, Inc. (NASDAQ:SNCR) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 25,975 shares of the software maker’s stock, valued at approximately $171,000.
Separately, Principal Financial Group Inc. increased its holdings in Synchronoss Technologies by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 335,057 shares of the software maker’s stock worth $3,535,000 after buying an additional 7,946 shares in the last quarter. Hedge funds and other institutional investors own 13.32% of the company’s stock.
Several research firms recently commented on SNCR. TheStreet downgraded Synchronoss Technologies from a “c-” rating to a “d” rating in a report on Monday, October 1st. Zacks Investment Research upgraded Synchronoss Technologies from a “sell” rating to a “hold” rating in a report on Saturday, September 29th. ValuEngine upgraded Synchronoss Technologies from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Finally, Stifel Nicolaus downgraded Synchronoss Technologies from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $8.00 to $3.00 in a report on Monday, July 30th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $6.38.
NASDAQ SNCR opened at $5.89 on Friday. Synchronoss Technologies, Inc. has a one year low of $3.90 and a one year high of $12.12. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.41 and a current ratio of 0.99.
Synchronoss Technologies (NASDAQ:SNCR) last released its quarterly earnings data on Wednesday, November 7th. The software maker reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.47). Synchronoss Technologies had a negative return on equity of 48.08% and a negative net margin of 36.27%. The business had revenue of $83.30 million during the quarter, compared to the consensus estimate of $83.00 million. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, equities analysts anticipate that Synchronoss Technologies, Inc. will post -2.62 EPS for the current year.
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About Synchronoss Technologies
Synchronoss Technologies, Inc provides cloud, digital, messaging, and Internet of things platforms, products, and solutions worldwide. Its products and services include cloud-based sync, backup, storage and content engagement capabilities, broadband connectivity solutions, analytics, white label messaging, and identity/access management that enable communications service providers, cable operators/multi-services operators, original equipment manufacturers with embedded connectivity, and multi-channel retailers, as well as other customers to accelerate and monetize value-add services for secure and broadband networks and connected devices.
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