Insider Selling: Synchronoss Technologies President Unloads 9,956 Shares of Stock (SNCR)
Synchronoss Technologies (NASDAQ:SNCR) President Robert Garcia sold 9,956 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $38.17, for a total transaction of $380,020.52. Following the transaction, the president now directly owns 93,066 shares of the company’s stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
SNCR has been the subject of a number of recent research reports. Analysts at Goldman Sachs Group Inc. upgraded shares of Synchronoss Technologies (NASDAQ:SNCR) from a “sell” rating to a “neutral” rating in a research note to investors on Wednesday. They now have a $37.00 price target on the stock, up previously from $28.00. Separately, 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. Finally, 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.
Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $37.35.
Shares of Synchronoss Technologies (NASDAQ:SNCR) traded down 0.71% on Thursday, hitting $37.98. 346,691 shares of the company’s stock traded hands. Synchronoss Technologies has a one year low of $17.08 and a one year high of $38.58. The stock has a 50-day moving average of $35.32 and a 200-day moving average of $31.37. The company has a market cap of $1.471 billion and a price-to-earnings ratio of 112.50.
Synchronoss Technologies (NASDAQ:SNCR) last issued its quarterly earnings data 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.
Synchronoss Technologies, Inc (NASDAQ:SNCR) is a provider of on-demand transaction management solutions.
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