Synacor Downgraded to “Market Perform” at Albert Fried & Company (SYNC)
Synacor (NASDAQ:SYNC) was downgraded by Albert Fried & Company from an “overweight” rating to a “market perform” rating in a research note issued on Wednesday, TheFlyOnTheWall.com reports.
Separately, analysts at Bank of America reiterated an “underperform” rating on shares of Synacor in a research note on Wednesday. They now have a $2.00 price target on the stock, down previously from $2.40.
Synacor (NASDAQ:SYNC) traded down 5.58% during mid-day trading on Wednesday, hitting $2.20. 34,528 shares of the company’s stock traded hands. Synacor has a one year low of $2.12 and a one year high of $2.89. The stock’s 50-day moving average is $2.47 and its 200-day moving average is $2.45. The company’s market cap is $60.6 million.
Synacor (NASDAQ:SYNC) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.07) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.09) by $0.02. The company had revenue of $24.20 million for the quarter, compared to the consensus estimate of $24.12 million. On average, analysts predict that Synacor will post $-0.13 earnings per share for the current fiscal year.
Synacor, Inc (NASDAQ:SYNC) is a provider of solutions for delivery of online content and services.
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