Synchronoss Technologies Price Target Increased to $46.00 by Analysts at FBR Capital Markets (SNCR)
FBR Capital Markets hoisted their target price on shares of Synchronoss Technologies (NASDAQ:SNCR) from $43.00 to $46.00 in a research note issued on Tuesday. The firm currently has an “outperform” rating on the stock. FBR Capital Markets’ price target suggests a potential upside of 15.81% from the stock’s previous close.
In other Synchronoss Technologies news, EVP Ronald Prague sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $33.70, for a total value of $168,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Synchronoss Technologies (NASDAQ:SNCR) traded up 14.60% during mid-day trading on Tuesday, hitting $39.72. The stock had a trading volume of 1,941,254 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 $34.04 and its 200-day moving average is $32.28. The company has a market cap of $1.588 billion and a P/E ratio of 45.85.
Synchronoss Technologies (NASDAQ:SNCR) last released its earnings data on Tuesday, July 29th. 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 $103.50 million for the quarter, compared to the consensus estimate of $102.22 million. During the same quarter last year, the company posted $0.31 earnings per share. Synchronoss Technologies’s revenue was up 23.6% compared to the same quarter last year. Analysts expect that Synchronoss Technologies will post $1.66 EPS for the current fiscal year.
SNCR has been the subject of a number of other 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. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $40.95.
Synchronoss Technologies, Inc (NASDAQ:SNCR) is a provider of on-demand transaction management solutions.
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