Insider Selling: Ronald Prague Sells 5,000 Shares of Synchronoss Technologies Stock (SNCR)
Synchronoss Technologies (NASDAQ:SNCR) EVP Ronald Prague sold 5,000 shares of the stock on the open market in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $31.82, for a total value of $159,100.00. Following the sale, the executive vice president now directly owns 34,428 shares of the company’s stock, valued at approximately $1,095,499. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Synchronoss Technologies (NASDAQ:SNCR) traded up 0.47% on Friday, hitting $32.39. The stock had a trading volume of 502,130 shares. Synchronoss Technologies has a 52-week low of $25.28 and a 52-week high of $39.30. The stock’s 50-day moving average is $30.21 and its 200-day moving average is $33.46. The company has a market cap of $1.275 billion and a P/E ratio of 55.59.
Synchronoss Technologies (NASDAQ:SNCR) last announced its earnings results on Wednesday, February 5th. The company reported $0.41 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.40 by $0.01. The company had revenue of $97.60 million for the quarter, compared to the consensus estimate of $95.60 million. During the same quarter last year, the company posted $0.29 earnings per share. Synchronoss Technologies’s revenue was up 32.2% compared to the same quarter last year. On average, analysts predict that Synchronoss Technologies will post $1.64 earnings per share for the current fiscal year.
A number of research firms have recently commented on SNCR. Analysts at Zacks upgraded shares of Synchronoss Technologies from an “underperform” rating to a “neutral” rating in a research note on Monday, February 10th. They now have a $33.00 price target on the stock. Separately, analysts at TheStreet upgraded shares of Synchronoss Technologies from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Finally, analysts at Pacific Crest cut their price target on shares of Synchronoss Technologies from $39.00 to $37.00 in a research note on Thursday, December 19th. They now have an “outperform” rating on the stock. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $40.25.
Synchronoss Technologies, Inc (NASDAQ:SNCR) is a provider of on-demand transaction management solutions.
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