Synchronoss Technologies Receives Consensus Rating of “Buy” from Brokerages (NASDAQ:SNCR)
Synchronoss Technologies (NASDAQ:SNCR) has been given a consensus rating of “Buy” by the twelve brokerages that are presently covering the stock, AnalystRatingsNetwork reports. Three research 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. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $40.67.
Synchronoss Technologies (NASDAQ:SNCR) opened at 33.91 on Thursday. 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 $33.27 and a 200-day moving average of $32.01. The company has a market cap of $1.356 billion and a price-to-earnings ratio of 43.58.
Synchronoss Technologies (NASDAQ:SNCR) last announced its 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. On average, analysts predict that Synchronoss Technologies will post $1.66 earnings per share for the current fiscal year.
SNCR has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Synchronoss Technologies from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 1st. They now have a $37.40 price target on the stock. Finally, 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.
Synchronoss Technologies, Inc (NASDAQ:SNCR) is a provider of on-demand transaction management solutions.
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