Insider Selling: Synchronoss Technologies EVP Unloads 1,624 Shares of Stock (SNCR)
Synchronoss Technologies (NASDAQ:SNCR) EVP Patrick Joseph Doran sold 1,624 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $36.06, for a total value of $58,561.44. Following the completion of the transaction, the executive vice president now directly owns 35,643 shares of the company’s stock, valued at approximately $1,285,287. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Synchronoss Technologies (NASDAQ:SNCR) traded down 1.11% on Tuesday, hitting $36.64. The stock had a trading volume of 26,179 shares. Synchronoss Technologies has a 1-year low of $17.08 and a 1-year high of $39.30. The stock has a 50-day moving average of $36.82 and a 200-day moving average of $32.24. The company has a market cap of $1.419 billion and a price-to-earnings ratio of 108.97.
Synchronoss Technologies (NASDAQ:SNCR) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 25.1% on a year-over-year basis. Analysts expect that Synchronoss Technologies will post $1.34 EPS for the current fiscal year.
A number of research firms have recently commented on SNCR. Analysts at Pacific Crest raised their price target on shares of Synchronoss Technologies from $37.00 to $40.00 in a research note to investors on Wednesday, September 25th. They now have an “outperform” rating on the stock. Separately, analysts at Goldman Sachs Group Inc. upgraded shares of Synchronoss Technologies from a “sell” rating to a “neutral” rating in a research note to investors on Wednesday, September 18th. They now have a $37.00 price target on the stock, up previously from $28.00. Finally, analysts at Credit Suisse reiterated a “focus list” rating on shares of Synchronoss Technologies in a research note to investors on Monday, August 5th. They now have a $46.00 price target on the stock. Two 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 has an average rating of “Buy” and a consensus price target of $37.60.
Synchronoss Technologies, Inc (NASDAQ:SNCR) is a provider of on-demand transaction management solutions.
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