Insider Selling: Ronald Prague Sells 3,047 Shares of Synchronoss Technologies Stock (SNCR)
Synchronoss Technologies (NASDAQ:SNCR) EVP Ronald Prague unloaded 3,047 shares of Synchronoss Technologies stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $31.21, for a total value of $95,096.87. Following the transaction, the executive vice president now directly owns 28,172 shares in the company, valued at approximately $879,248. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on SNCR shares. Analysts at Pacific Crest cut their price target on shares of Synchronoss Technologies from $39.00 to $37.00 in a research note to investors on Thursday, December 19th. They now have an “outperform” rating on the stock. Separately, analysts at Raymond James upgraded shares of Synchronoss Technologies from an “outperform” rating to a “strong-buy” rating in a research note to investors on Thursday, December 12th. They now have a $40.00 price target on the stock. Finally, analysts at Robert W. Baird downgraded shares of Synchronoss Technologies from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, November 18th. They now have a $35.00 price target on the stock, down previously from $40.00. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $40.35.
Shares of Synchronoss Technologies (NASDAQ:SNCR) traded up 0.30% on Tuesday, hitting $30.57. 324,785 shares of the company’s stock traded hands. Synchronoss Technologies has a one year low of $23.09 and a one year high of $39.30. The stock’s 50-day moving average is $30.46 and its 200-day moving average is $33.51. The company has a market cap of $1.197 billion and a price-to-earnings ratio of 109.25.
Synchronoss Technologies (NASDAQ:SNCR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.34 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.34. 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 prior year, the company posted $0.28 earnings per share. The company’s quarterly revenue was up 30.1% on a year-over-year basis. Analysts expect that Synchronoss Technologies will post $1.33 EPS for the current fiscal year.
Synchronoss Technologies, Inc (NASDAQ:SNCR) is a provider of on-demand transaction management solutions.
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