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 Synchronoss Technologies stock on the open market in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $34.42, for a total transaction of $172,100.00. Following the transaction, the executive vice president now directly owns 34,428 shares in the company, valued at approximately $1,185,012. 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 0.52% on Friday, hitting $34.52. The stock had a trading volume of 298,648 shares. Synchronoss Technologies has a one year low of $25.28 and a one year high of $39.30. The stock’s 50-day moving average is $31.43 and its 200-day moving average is $31.55. The company has a market cap of $1.380 billion and a P/E ratio of 45.42.
Synchronoss Technologies (NASDAQ:SNCR) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. The company had revenue of $98.70 million for the quarter, compared to the consensus estimate of $97.00 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 25.8% on a year-over-year basis. Analysts expect that Synchronoss Technologies will post $1.66 EPS for the current fiscal year.
A number of analysts have recently weighed in on SNCR shares. Analysts at Zacks upgraded shares of Synchronoss Technologies from a “neutral” rating to an “outperform” rating in a research note on Wednesday, May 7th. They now have a $37.40 price target on the stock. Analysts at Raymond James upgraded shares of Synchronoss Technologies from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, May 1st. They now have a $40.00 price target on the stock, up previously from $39.00. Two 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 stock. Synchronoss Technologies currently has a consensus rating of “Buy” and a consensus target price of $40.67.
Synchronoss Technologies, Inc (NASDAQ:SNCR) is a provider of on-demand transaction management solutions.
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