Synacor (SYNC) Releases Quarterly Earnings, Hits Estimates
Synacor (NASDAQ:SYNC) released its earnings data on Tuesday. The company reported ($0.05) earnings per share for the quarter, meeting the analysts’ consensus estimate of ($0.05), Analyst Ratings Net reports. The company had revenue of $25.20 million for the quarter, compared to the consensus estimate of $24.55 million. During the same quarter last year, the company posted $0.02 earnings per share. Synacor’s revenue was down 13.4% compared to the same quarter last year.
Shares of Synacor (NASDAQ:SYNC) traded down 1.09% on Tuesday, hitting $2.265. 53,676 shares of the company’s stock traded hands. Synacor has a 1-year low of $2.13 and a 1-year high of $4.14. The stock’s 50-day moving average is $2.4 and its 200-day moving average is $2.54. The company’s market cap is $62.2 million.
Several analysts have recently commented on the stock. Analysts at Bank of America reiterated an “underperform” rating on shares of Synacor in a research note on Thursday, March 6th. They now have a $2.50 price target on the stock, down previously from $3.00. Analysts at BMO Capital Markets cut their price target on shares of Synacor from $4.00 to $3.50 in a research note on Thursday, March 6th.
Synacor, Inc (NASDAQ:SYNC) is a provider of solutions for delivery of online content and services.
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