Synchronoss Technologies PT Raised to $50.00 at Wedbush (SNCR)
Equities researchers at Wedbush lifted their price target on shares of Synchronoss Technologies (NASDAQ:SNCR) from $45.00 to $50.00 in a research report issued on Thursday. Wedbush’s price objective would indicate a potential upside of 25.41% from the company’s current price.
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 52-week low of $25.28 and a 52-week 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 P/E ratio of 46.77.
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 $1.71 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse raised their price target on shares of Synchronoss Technologies from $46.00 to $56.00 in a research note on Thursday. Separately, 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. Finally, 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. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $43.04.
Synchronoss Technologies, Inc (NASDAQ:SNCR) is a provider of on-demand transaction management solutions.
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