Synchronoss Technologies Upgraded to “Neutral” by Goldman Sachs Group Inc. (SNCR)
Synchronoss Technologies (NASDAQ:SNCR) was upgraded by investment analysts at Goldman Sachs Group Inc. from a “sell” rating to a “neutral” rating in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse reiterated a “focus list” rating on shares of Synchronoss Technologies (NASDAQ:SNCR) in a research note to investors on Monday, August 5th. They now have a $46.00 price target on the stock. Separately, analysts at Stifel Nicolaus raised their price target on shares of Synchronoss Technologies (NASDAQ:SNCR) from $36.00 to $40.00 in a research note to investors on Thursday, August 1st. They now have a “buy” rating on the stock. Finally, analysts at Lazard Capital Markets raised their price target on shares of Synchronoss Technologies (NASDAQ:SNCR) from $34.00 to $38.00 in a research note to investors on Thursday, August 1st. They now have a “buy” rating on the stock.
Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $37.38.
Shares of Synchronoss Technologies (NASDAQ:SNCR) opened at 37.37 on Wednesday. Synchronoss Technologies has a 52-week low of $17.08 and a 52-week high of $37.65. The stock has a 50-day moving average of $34.99 and a 200-day moving average of $31.2. The company has a market cap of $1.447 billion and a price-to-earnings ratio of 109.91.
Synchronoss Technologies (NASDAQ:SNCR) last announced its earnings results on Tuesday, July 30th. The company reported $0.31 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.29 by $0.02. The company had revenue of $83.80 million for the quarter, compared to the consensus estimate of $83.08 million. During the same quarter last year, the company posted $0.29 earnings per share. Synchronoss Technologies’s revenue was up 25.1% compared to the same quarter last year. Analysts expect that Synchronoss Technologies will post $1.34 EPS for the current fiscal year.
In other Synchronoss Technologies news, EVP Paula J. Hilbert unloaded 5,394 shares of Synchronoss Technologies stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $35.44, for a total transaction of $191,163.36. The transaction was disclosed in a filing with the SEC, which is available at this link.
Synchronoss Technologies, Inc (NASDAQ:SNCR) is a provider of on-demand transaction management solutions.
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