Synchronoss Technologies Stock Price Down 2.5% Following Insider Selling (SNCR)
Synchronoss Technologies (NASDAQ:SNCR)’s share price traded down 2.5% on Thursday following insider selling activity, Stock Ratings News reports. The company traded as low as $42.28 and last traded at $42.71, with a volume of 248,092 shares. The stock had previously closed at $43.79.
Specifically, President Robert Garcia sold 10,500 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $42.74, for a total transaction of $448,770.00. The sale was disclosed in a filing with the SEC, which is available at this link.
SNCR has been the subject of a number of recent research reports. Analysts at Stifel Nicolaus raised their price target on shares of Synchronoss Technologies from $46.00 to $49.00 in a research note on Thursday, July 31st. Separately, analysts at Wedbush raised their price target on shares of Synchronoss Technologies from $45.00 to $50.00 in a research note on Thursday, July 31st. Finally, 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, July 31st. Two equities research 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 stock. The stock currently has an average rating of “Buy” and an average price target of $43.67.
The stock has a 50-day moving average of $38.06 and a 200-day moving average of $34.03. The company has a market cap of $1.721 billion and a price-to-earnings ratio of 50.68.
Synchronoss Technologies (NASDAQ:SNCR) last issued its quarterly earnings data 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. On average, analysts predict that Synchronoss Technologies will post $1.69 earnings per share for the current fiscal year.
Synchronoss Technologies, Inc (NASDAQ:SNCR) is a provider of on-demand transaction management solutions.
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