Synchronoss Technologies (SNCR) Posts Quarterly Results
Synchronoss Technologies (NASDAQ:SNCR) posted its quarterly earnings results on Monday. The company reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34, Analyst Ratings.Net reports. The company had revenue of $89.71 million for the quarter, compared to the consensus estimate of $90.08 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 30.1% on a year-over-year basis.
Shares of Synchronoss Technologies (NASDAQ:SNCR) traded up 9.70% on Monday, hitting $37.10. The stock had a trading volume of 890,524 shares. Synchronoss Technologies has a one year low of $17.08 and a one year high of $39.30. The stock has a 50-day moving average of $37.51 and a 200-day moving average of $33.03. The company has a market cap of $1.437 billion and a P/E ratio of 99.47.
Several analysts have recently commented on the stock. Analysts at Wedbush reiterated an “outperform” rating on shares of Synchronoss Technologies in a research note to investors on Tuesday, October 29th. They now have a $45.00 price target on the stock. On the ratings front, analysts at Goldman Sachs Group Inc. reiterated a “hold” rating on shares of Synchronoss Technologies in a research note to investors on Wednesday, October 16th. They now have a $37.00 price target on the stock. Two research 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. The company currently has a consensus rating of “Buy” and an average price target of $38.43.
In other Synchronoss Technologies news, CFO Lawrence R. Irving sold 5,907 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $37.91, for a total value of $223,934.37. The sale 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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