Synchronoss Technologies EVP Sells $155,550 in Stock (SNCR)
Synchronoss Technologies (NASDAQ:SNCR) EVP Ronald Prague sold 5,000 shares of Synchronoss Technologies stock on the open market in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $31.11, for a total transaction of $155,550.00. Following the completion of the sale, the executive vice president now directly owns 34,428 shares in the company, valued at approximately $1,071,055. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on SNCR shares. Analysts at Raymond James downgraded shares of Synchronoss Technologies from a “strong-buy” rating to an “outperform” rating in a research note on Thursday, March 20th. They now have a $39.00 price target on the stock. Separately, 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. Finally, analysts at TheStreet upgraded shares of Synchronoss Technologies from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Synchronoss Technologies has a consensus rating of “Buy” and an average price target of $40.18.
Synchronoss Technologies (NASDAQ:SNCR) traded up 2.56% on Friday, hitting $32.05. 350,482 shares of the company’s stock traded hands. Synchronoss Technologies has a 52-week low of $25.28 and a 52-week high of $39.30. The stock has a 50-day moving average of $33.70 and a 200-day moving average of $32.84. The company has a market cap of $1.267 billion and a price-to-earnings ratio of 53.88.
Synchronoss Technologies (NASDAQ:SNCR) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 32.2% on a year-over-year basis. Analysts expect that Synchronoss Technologies will post $1.64 EPS for the current fiscal year.
Synchronoss Technologies, Inc (NASDAQ:SNCR) is a provider of on-demand transaction management solutions.
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