Insider Selling: Synchronoss Technologies CFO Unloads 23,414 Shares of Stock (SNCR)
Synchronoss Technologies (NASDAQ:SNCR) CFO Lawrence R. Irving sold 23,414 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $31.09, for a total value of $727,941.26. Following the completion of the transaction, the chief financial officer now directly owns 111,742 shares in the company, valued at approximately $3,474,059. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Synchronoss Technologies (NASDAQ:SNCR) traded up 0.30% during mid-day trading on Tuesday, hitting $30.57. The stock had a trading volume of 324,785 shares. Synchronoss Technologies has a 52-week low of $23.09 and a 52-week high of $39.30. The stock has a 50-day moving average of $30.46 and a 200-day moving average of $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 released its earnings data on Monday, November 4th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting the 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 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. On average, analysts predict that Synchronoss Technologies will post $1.33 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. 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 company. Synchronoss Technologies presently has a consensus rating of “Buy” and an average price target of $40.35.
Synchronoss Technologies, Inc (NASDAQ:SNCR) is a provider of on-demand transaction management solutions.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.