Synchronoss Technologies Price Target Raised to $56.00 at Credit Suisse (SNCR)
Investment analysts at Credit Suisse boosted their price objective on shares of Synchronoss Technologies (NASDAQ:SNCR) from $46.00 to $56.00 in a note issued to investors on Thursday. Credit Suisse’s price objective suggests a potential upside of 40.46% from the stock’s previous close.
SNCR has been the subject of a number of other recent research reports. Analysts at FBR Capital Markets raised their price target on shares of Synchronoss Technologies from $43.00 to $46.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. Separately, 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 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. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $43.04.
Shares of Synchronoss Technologies (NASDAQ:SNCR) traded down 1.29% on Thursday, hitting $39.89. 476,880 shares of the company’s stock traded hands. Synchronoss Technologies has a 1-year low of $25.28 and a 1-year high of $41.40. The stock’s 50-day moving average is $34.90 and its 200-day moving average is $32.53. The company has a market cap of $1.601 billion and a price-to-earnings ratio of 46.77.
Synchronoss Technologies (NASDAQ:SNCR) last posted its quarterly earnings results on Tuesday, July 29th. 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 $103.50 million for the quarter, compared to the consensus estimate of $102.22 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 23.6% on a year-over-year basis. Analysts expect that Synchronoss Technologies will post $1.71 EPS for the current fiscal year.
Synchronoss Technologies, Inc (NASDAQ:SNCR) is a provider of on-demand transaction management solutions.
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